Standard Employee Separation Agreement
In another recent decision, the Tenth Circuit Court of Appeals (which includes Oklahoma, Kansas, New Mexico, Colorado, Wyoming and Utah, as well as parts of Yellowstone National Park extending to Montana and Idaho) struck down the declassifications signed by the applicants after a reduction in force in which the employers failed to comply with the OWBPA`s requirements for dismissals from the technical group. In particular, the employer did not disclose the correct “unit of decision” in the declassification agreements and did not list all the “claim factors” used to determine who is subject to the termination program. Again, the publications “did not meet the strict and unlimited requirements of the OWBPA” and were therefore considered legally ineffective. Severance pay helps employees stay financially on their feet while they look for a new job. Often, the dismissal can be unexpected for the employee. A severance pay agreement also helps the employer ensure that their employee does not cause harm to the company after the dismissal. Well, for employers who offer severance pay in exchange for an exemption agreement, here are some pitfalls to avoid. That`s why we generally recommend that employers use a corresponding severance pay and release agreement if they offer severance pay. .