The agreement identifies both parties and indicates the date of employment and termination. This could be the case, for example, if you are in a group health insurance program. A good employment separation contract protects the interests of both parties. Some employers enter into agreements that are too complicated to confuse or intimidate employees. If you don`t understand the conditions, seek advice from a lawyer before signing and waiving the rights. Analyze the terms of a separation agreement and research the labor laws in your state. The company will first prepare an agreement for the defense of its interests. Be sure to sign something that also protects your rights. Keep in mind: this is optional and may or may not include a payment of monetary value.
U.S. law only requires employees to receive wages because of the last day of work and accumulated leave. Even the largest companies lay off employees without severance pay. You will find the conditions of the departure packages in your employment contract. Remember that the company wants you to sign the agreement, so you don`t have any future claims. Consider whether the proposed redundancy package is worth this release. In the personnel manual you will find rules and procedures for dismissals. Pay particular attention to the company`s policy on different reasons for dismissal. For example, if this is due to a reduction in the company, you may be entitled to a severance pay plan or additional payments. . .