Employee Severance form/Legal release
reubengonzales
1 Post
I am planning on terminating an employee and provide a two week severance. Does anyone have a sample form or letter to have employee sign as a release not to sue employer or hold harmless?
Comments
Totally agree with having an attorney draw this up. There are definitely land mines. Especially if the person is over 40 in age.
Also you need to give them a revokation period regardless. 7 days will usually suffice for those less than 40 years old. But if they are over 40, you must give them a certain # of days to sign and then a certain # to revoke or it is useless.
You do not want to immediately hand them their severance as soon as they sign it, because they would still have 7 days to revoke.
And these are just a few of the issues.....definitely seek employment counsel. They should be able to draw up a standard one in a short period of time that you can use now and in the future.
Get the document from your attorney. Make sure it has the recission period and consideration period language in it. We do that for everyone so that we aren't busy looking up ages when we determine how to dismiss someone. That's a plan that rarely goes well even if it begins with the best intentions.