A contract is usually discharged by performance of the terms of the agreement. A contract may be discharged pursuant to a provision in the contract or by a subsequent agreement. For example, there may be a discharge by the terms of the original contract when it says it will end on a certain date. There may be a mutual cancellation when both parties agree to end their contract. There may be a mutual rescission when both parties agree to annul the contract and return to their original positions as if the contract had never been made. This would require returning any consideration (e.g., money) that had changed hands.
Other examples of discharge by agreement are:
• accord and satisfaction;
• a release; and
• a waiver.
Title: Understanding Severance Negotiation Letter Templates with Salary Introduction: Severance negotiation letter templates with salary are essential documents that outline the terms and conditions of a severance package between an employer and an employee. These templates serve as a guide for employees when advocating for fair compensation during a termination or layoff situation. This article explores different types of severance negotiation letter templates with salary, offering insight into their key components and highlighting relevant keywords in each case. 1. Standard Severance Negotiation Letter Template with Salary: Description: The standard severance negotiation letter template outlines the basic components required to negotiate salary and benefits effectively during a termination scenario. It typically includes: a) Introduction: Expressing gratitude for the employment opportunity and acknowledging the termination or layoff. b) Proposed Severance Package: Clearly specifying the proposed severance amount, its breakdown, and additional benefits such as extended healthcare coverage, outplacement services, or continuation of retirement plans. c) Justification for Negotiation: Highlighting the employee's contributions, tenure, exceptional performance, or contractual agreements that warrant a higher severance package. d) Counteroffer: Explaining the desired adjustments to the initial severance package, which may involve salary increase, extended benefits, or additional compensation in exchange for a non-disparagement agreement or non-compete clause. e) Conclusion: Expressing willingness to discuss the proposal further and requesting prompt communication for a mutually beneficial agreement. Relevant keywords: severance negotiation, salary negotiation, termination, compensation package, layoff, employee benefits, outplacement services, contractual agreements, counteroffer, non-disparagement agreement, non-compete clause. 2. Executive Level Severance Negotiation Letter Template with Salary: Description: This template is tailored for executives who often receive unique severance packages due to their higher positions of responsibility. It includes: a) Introduction: Appreciating the opportunity to serve in a leadership role and acknowledging the decision for termination or layoff. b) Executive Severance Package: Clearly outlining the comprehensive severance package, including a higher proposed severance amount, bonus payouts, accelerated vesting of stock options, extended healthcare coverage, confidentiality agreements, and non-compete requirements. c) Justification for Negotiation: Demonstrating the executive's exceptional performance, achievements, impact on company growth, and desire for a fair severance package that aligns with market standards. d) Counteroffer: Presenting a persuasive case for an enhanced severance package, which may involve higher salary continuation, greater pro rata bonus payout, extended benefits, or other executive-specific requirements. e) Conclusion: Expressing openness to discuss further and maintaining a professional tone while emphasizing the value of reaching a mutually beneficial agreement. Relevant keywords: executive severance package, executive compensation, termination, stock options, bonus payout, healthcare coverage, confidentiality agreements, market standards, salary continuation, pro rata bonus, negotiation. Conclusion: Severance negotiation letter templates with salary play a key role in ensuring fair compensation during unfortunate termination or layoff situations. Using the appropriate template, employees can present their case effectively, highlighting the value they bring to the organization and negotiating terms that align with their contributions and market standards. Customizing these templates with relevant keywords and personalized justifications can significantly enhance the chances of reaching a favorable severance agreement.
