The issues to consider from the employer’s side in a severance agreement

04-02426 Long-time Ryan employee Earl Prudden

Have you ever had to terminate an employee?

Did you know that offering some severance pay and getting a severance agreement can protect your business?

Employees are terminated. When it happens, both the employer and the employee need to know what issues to be thinking about.  One thing to consider is a severance agreement.

A severance agreement typically means that a terminated employee is going to receive money that they were not already entitled to receive in exchange for waiving claims they have against the employer.

This mind map covers some of the issues an employer should be thinking about when drafting and signing a severance agreement with an employee.

 

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Posted by Shawn Roberts

I write about and try to answer practical Oklahoma legal questions. I tend to focus on estate planning and business issues. I make a living as an attorney working for Resolution Legal Group in Oklahoma City. I am husband to Amy and the father of Sam and David. We live exactly in the path where the "wind comes sweeping down the plains."