Regardless of whether you accept this Agreement, you will receive a lump sum payment for any accrued but unused vacation as of your Employment Separation Date, which sum will be paid to you in accordance with Company policy and applicable laws.
You will not accrue any additional vacation following your Employment Separation Date.
CONCLUSION APPENDIX A: Employee Checklist: What to Do When Your Employer Offers You a Severance Agreement APPENDIX B: Sample Waiver and General Release: Group Layoffs of Employees Age 40 and Over - Employee reductions and terminations have been an unfortunate result of the current economic downturn.
To minimize the risk of potential litigation, many employers offer departing employees money or benefits in exchange for a release (or “waiver”) of liability for all claims connected with the employment relationship, including discrimination claims under the civil rights laws enforced by the Equal Employment Opportunity Commission (EEOC) -- the Age Discrimination in Employment Act (ADEA), Title VII, the Americans with Disabilities Act (ADA), and the Equal Pay Act (EPA).
This template and the content in this article provide general information only, so we would also advise you to consult your attorney about your specific situation.
You may also access this template here as a Word Document, or here as a PDF.
To: [Employee Name] Date: [Offer Date] [Correct P&G Entity] ("P&G") is willing to provide you with certain assistance following your employment separation from the Company.
Even in good economic times, however, businesses of every size carefully assess their operational structures and may sometimes decide to reduce their workforce.
This article summarizes the extra protections provided to employees age 40 and over, and outlines why one-size-fits-all severance and release agreements just don’t work.
For an employee who is 40 years old or older, the detailed, employee-friendly provisions contained in the Older Workers Benefit Protection Act ("OWBPA") apply.
Your receipt of the benefits described below is conditioned upon your accepting, and abiding by, the terms of this Agreement.
Your last day of employment will be [Separation Date], referred to as your "Employment Separation Date." Unless otherwise noted below, your pay and benefits will cease as of your Employment Separation Date.