What should be included in the release of claims section?
The release of claims section should state that the employee waives their right to sue the employer for any claims arising from their employment or termination, ensuring both parties can move forward without legal disputes.
What to Include in a Severance AgreementHow long do severance benefits typically last?
The duration of severance benefits can vary widely depending on company policy, the employee's length of service, and the circumstances of their departure; it is usually specified in the severance agreement.
Can I continue my health insurance after termination?
Yes, many severance agreements include provisions for continued health insurance coverage, often through COBRA (Consolidated Omnibus Budget Reconciliation Act), allowing employees to maintain their health benefits for a limited time after leaving the company.
What happens if I don’t sign the severance agreement?
If you choose not to sign the severance agreement, you may forfeit any severance pay or benefits offered. It's advisable to seek legal counsel to understand the implications fully before making a decision.
