Guam Employment Severance Documents Package
Description
How to fill out Employment Severance Documents Package?
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FAQ
A severance agreement should include the following elements: The name of the employer and employee. The effective date of the agreement. The employment period of the outgoing employee. The severance pay amount. Terms of continuation of benefits. Employee waiver of legal claims (within reason)
Severance Package Example: Effective as of the Severance Date, the Employee's position with the Employer shall be terminated. The Employer is under no obligation to pay any sum as a result of the termination. Any payment described below will only be made following the execution of this agreement.
Family and Medical Act ? FMLA Employees are entitled to take up to a total of 12 workweeks in any 12 months for Family Care and Medical leave. Employers with less than 20 employees are entitled to refuse to grant family care and medical leave to the employees.
Many severance packages in California use a formula such as one week's pay for every year of service, or more generous packages might payout a month's pay for every year. Other California packages are based on lump-sum payments. The parties are free to use any formula or payout any amount.
For example, a severance contract could include a severance pay term granting one week's pay for each year of service to the employer. Although not required, some employers may also offer other severance benefits, such as job counseling or payment of COBRA expenses, as part of an overall severance ?package.?
Dear [Employee Name], I regret to inform you that your employment with [Company Name] is terminated effective [date]. Four weeks of severance pay is being offered in exchange for signing the attached release of claims and returning the signed release to human resources no later than [date].