The Severance Package Letter is a crucial document used when terminating employment relationships in the United States, whether through layoffs, restructuring, or mutual agreement. It serves as an official record of the separation terms and conditions, protecting both employer and employee interests. The letter must comply with federal regulations including the Age Discrimination in Employment Act (ADEA), Older Workers Benefit Protection Act (OWBPA), and COBRA, as well as state-specific employment laws. A well-drafted Severance Package Letter typically includes severance payment terms, benefits continuation details, release of claims, confidentiality obligations, and relevant legal notices. It's particularly important in situations involving reduction in force, organizational restructuring, or individual terminations where severance benefits are being offered.
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1. Opening and Identification: Date, recipient's name, address, and formal greeting
2. Termination Information: Clear statement of employment termination, including last day of employment and reason if appropriate
3. Severance Payment Terms: Amount of severance pay, calculation method, payment schedule, and tax implications
4. Benefits Continuation: Details about health insurance, COBRA rights, and other benefit continuations or terminations
5. Company Property: Instructions regarding return of company property and timeline
6. Confidentiality Obligations: Reminder of ongoing confidentiality obligations and any non-compete restrictions
7. Release of Claims: Terms of the general release and waiver of claims against the company
8. Timeline for Response: Deadline for accepting the severance offer and any applicable review/revocation periods
9. Closing: Contact information for questions, signature blocks, and acknowledgment of receipt
1. Outplacement Services: Include when the company is offering career transition assistance or job placement services
2. Equity/Stock Options: Include when addressing vesting or exercise of stock options or other equity compensation
3. Reference Policy: Include when specifying how future employment verification or references will be handled
4. Non-Disparagement: Include when mutual or one-way non-disparagement provisions are desired
5. OWBPA Notice: Required when the employee is 40 or older, including specific age discrimination waiver language
6. Continuation of Duties: Include when employee is expected to assist with transition or knowledge transfer
7. Pro-rated Bonus: Include when addressing eligibility for current year bonus or commission payments
1. Severance Calculation Schedule: Detailed breakdown of severance payment calculation including base salary, bonuses, and other components
2. Benefits Summary: Comprehensive list of benefits continuation periods and coverage details
3. OWBPA Disclosure: Required attachment for employees over 40, listing job titles and ages of employees selected and not selected for termination
4. State-Specific Notices: Any required state-specific termination or unemployment compensation notices
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