Severance Policy/Relocation Policy
MNHR952
7 Posts
We are a company of 200 employees in the Midwest; 200 Million in sales. We are in the process of developing a severance and relocation policy. Does anyone have any policies they would be willing to share to help us develop ours and makes sure we are not missing anything.
Thank you in advance.
Comments
Relocation Expense Agreement <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
The terms of this Relocation Agreement are predicated on your acceptance of an Offer of Employment with XYZ Corporation (XYZ), and with full understanding that you will take the necessary steps to relocate in order to fulfill the responsibilities of a full-time, regular Employee with our Company.
As part of XYZ's Offer of Employment to you, ________________________ ("Employee"), XYZ agrees to reimburse your relocation expenses, consistent with Company Policy, in the amount of $_____________. This amount is considered a payroll advance to you. The payment of all moving expenses and related costs is the sole and exclusive responsibility of you, the Employee.
In consideration of this investment in your future, you agree to the following terms:
· If you voluntarily terminate your employment with XYZ prior to completing twelve (12) full, consecutive months of active service with XYZ, but do complete six (6) or more full, consecutive months of active service with XYZ, you will immediately refund the Relocation Expense Amount to XYZ.
· If you voluntarily terminate your employment with XYZ prior to completing twelve (12) full, consecutive months of active service with XYZ, but do complete six (6) or more full, consecutive months of active service with XYZ, you will immediately refund to XYZ an amount which is equal to: (the Relocation Expense Amount divided by 12) multiplied by 12 minus the number of full, consecutive months of active service with XYZ.
· If any refund is due XYZ, you agree that the amount is payable in full immediately via personal check or payroll deduction at ______________________________, and you agree to permit XYZ to deduct from any monies or benefits including vacation pay, due you (including wages, bonuses, and/or expenses) this amount.
· If any action or proceeding is brought to enforce any provision of this Agreement by XYZ or if XYZ is required to refer any matter arising under this Agreement to an attorney, you agree to pay all costs of collection (including interest at the highest rate permitted by applicable law) and litigation, together with reasonable attorney's fees.
Neither this Agreement, any other agreement between you and XYZ, nor any XYZ practice creates any contract of employment between you and XYZ. You may terminate your employment with XYZ at any time with or without cause, and XYZ has the same right.
Agreed to by: ________________________________
Witnessed by: ________________________________
Printed Name: ________________________________
Employee's Printed Name: ______________________
Employee's Signature: __________________________
Signature XYZ Corporation: ______________________
Date: _______________________
Relocation Expense Agreement <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
The terms of this Relocation Agreement are predicated on your acceptance of an Offer of Employment with XYZ Corporation (XYZ), and with full understanding that you will take the necessary steps to relocate in order to fulfill the responsibilities of a full-time, regular Employee with our Company.
As part of XYZ's Offer of Employment to you, ________________________ ("Employee"), XYZ agrees to reimburse your relocation expenses, consistent with Company Policy, in the amount of $_____________. This amount is considered a payroll advance to you. The payment of all moving expenses and related costs is the sole and exclusive responsibility of you, the Employee.
In consideration of this investment in your future, you agree to the following terms:
· If you voluntarily terminate your employment with XYZ prior to completing twelve (12) full, consecutive months of active service with XYZ, but do complete six (6) or more full, consecutive months of active service with XYZ, you will immediately refund the Relocation Expense Amount to XYZ.
· If you voluntarily terminate your employment with XYZ prior to completing twelve (12) full, consecutive months of active service with XYZ, but do complete six (6) or more full, consecutive months of active service with XYZ, you will immediately refund to XYZ an amount which is equal to: (the Relocation Expense Amount divided by 12) multiplied by 12 minus the number of full, consecutive months of active service with XYZ.
· If any refund is due XYZ, you agree that the amount is payable in full immediately via personal check or payroll deduction at ______________________________, and you agree to permit XYZ to deduct from any monies or benefits including vacation pay, due you (including wages, bonuses, and/or expenses) this amount.
· If any action or proceeding is brought to enforce any provision of this Agreement by XYZ or if XYZ is required to refer any matter arising under this Agreement to an attorney, you agree to pay all costs of collection (including interest at the highest rate permitted by applicable law) and litigation, together with reasonable attorney's fees.
Neither this Agreement, any other agreement between you and XYZ, nor any XYZ practice creates any contract of employment between you and XYZ. You may terminate your employment with XYZ at any time with or without cause, and XYZ has the same right.
Agreed to by: ________________________________
Witnessed by: ________________________________
Printed Name: ________________________________
Employee's Printed Name: ______________________
Employee's Signature: __________________________
Signature XYZ Corporation: ______________________
Date: _______________________
Relocation Expense Agreement <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
The terms of this Relocation Agreement are predicated on your acceptance of an Offer of Employment with XYZ Corporation (XYZ), and with full understanding that you will take the necessary steps to relocate in order to fulfill the responsibilities of a full-time, regular Employee with our Company.
As part of XYZ's Offer of Employment to you, ________________________ ("Employee"), XYZ agrees to reimburse your relocation expenses, consistent with Company Policy, in the amount of $_____________. This amount is considered a payroll advance to you. The payment of all moving expenses and related costs is the sole and exclusive responsibility of you, the Employee.
In consideration of this investment in your future, you agree to the following terms:
· If you voluntarily terminate your employment with XYZ prior to completing twelve (12) full, consecutive months of active service with XYZ, but do complete six (6) or more full, consecutive months of active service with XYZ, you will immediately refund the Relocation Expense Amount to XYZ.
· If you voluntarily terminate your employment with XYZ prior to completing twelve (12) full, consecutive months of active service with XYZ, but do complete six (6) or more full, consecutive months of active service with XYZ, you will immediately refund to XYZ an amount which is equal to: (the Relocation Expense Amount divided by 12) multiplied by 12 minus the number of full, consecutive months of active service with XYZ.
· If any refund is due XYZ, you agree that the amount is payable in full immediately via personal check or payroll deduction at ______________________________, and you agree to permit XYZ to deduct from any monies or benefits including vacation pay, due you (including wages, bonuses, and/or expenses) this amount.
· If any action or proceeding is brought to enforce any provision of this Agreement by XYZ or if XYZ is required to refer any matter arising under this Agreement to an attorney, you agree to pay all costs of collection (including interest at the highest rate permitted by applicable law) and litigation, together with reasonable attorney's fees.
Neither this Agreement, any other agreement between you and XYZ, nor any XYZ practice creates any contract of employment between you and XYZ. You may terminate your employment with XYZ at any time with or without cause, and XYZ has the same right.
Agreed to by: ________________________________
Witnessed by: ________________________________
Printed Name: ________________________________
Employee's Printed Name: ______________________
Employee's Signature: __________________________
Signature XYZ Corporation: ______________________
Date: _______________________