What Every Employer Needs to Know About Severance Arrangements

OVERVIEW

We will explore the difference between a severance package and a severance agreement. You will learn the key elements of a severance agreement and what you need to do to afford your company maximum protection against employee lawsuits, administrative complaints with government agencies and whether your severance arrangements may be subject to ERISA laws.

WHY SHOULD YOU ATTEND

When done properly, severance arrangements can be an extremely valuable risk management tool for employers—but you need to be aware of the pitfalls. Many employers think that if they offer severance pay conditioned on certain restrictions that they have eliminated all legal risks, and assume everything is fine—until it’s not.

For example, do you condition severance pay on promises not to sue and other post-termination restrictions? Did you know that you might be contractually obligated to provide severance pay even if you do not have a written agreement? Did you know that your severance agreement may not protect you as much as you think? Or that it may not be enforceable? Is your severance arrangement subject to ERISA laws?

AREAS COVERED

• Common Severance Myths
• Key Elements of a Severance Agreement
• Non-Competition Clauses
• General Releases
• Discrimination Claims
• The EEOC and Severance Agreements
• The Older Workers’ Benefits Protection Act (OBWPA)
• COBRA and ACA Issues
• ERISA Considerations

WHO WILL BENEFIT

• Business Owners
• CEO’s
• CFO’s
• Benefits Administrators
• Compensation Officers
• HR Managers/ Directors
• Managers/ Senior Managers
• Payroll Administrators

LEARNING OBJECTIVES

Learn what you need to know to derive maximum benefit from and avoid the pitfalls associated with severance arrangements

Others Details

Severance agreement, non-competition clauses, the EEOC, OBWPA, COBRA, ACA issues & ERISA considerations