The online legal document provider, RealDealDocs.com has released a number of Severance Agreements for the top companies in America including many Fortune 500 companies. These are actual legal documents drafted by the nation’s top law firms.  

 

In 2005, Washington’s National Securities Corporation drafted a severance agreement with its President of National. That same year, the Chittenden Corporation also drafted a severance agreement for their Chief Executive Officer. Both of these severance agreements can be found on the RealDealDocs.com website along with numerous other sample legal documents.

A severance agreement,also called a termination or separation agreement is a written contract between a company and a terminated employee in which the employee is paid for relinquishing certain rights. The employees in question are almost always top executives. Those executives who receive severance agreements are most often executives who are caught up in a round of layoffs, or executives who pose a potential liability to the company.

The crux of the agreement is the executive’s promise to drop his legal claims against the company in exchange for remuneration. A claim that the executive might have against the company would most likely be for wrongful termination, discrimination, or for disputed wages or benefits.

No law obligates companies to offer severance pay. But if a severance agreement is used, it must allow the executive time to consider it and to revoke his acceptance. If an executive counteroffers the company’s agreement, he is effectively rejecting the company’s offer and risks losing it. Importantly, the severance agreement must offer the executive something additional for his decision to waive his rights, beyond what the executive is already owed.

RealDealDocs.com is the online legal document resource preferred by lawyers, deal professionals and entrepreneurs. The powerful search functionality is easy to use which is just one of the reasons 40 of the top 200 law firms in the world use it.  

 

The contracts, agreements and clauses available at RealDealDocs.com are the actual legal documents used by both the smallest of small capital companies as well as Fortune 500 companies alike. 

 

RealDealDocs.com helps to cut drafting time in half and provides unprecedented insight into the deal structures of the world’s largest companies. The legal documents may be searched for by category, law firm, parties involved or by the state of the governing law. Visitors can search the extensive RealDealDocs.com database absolutely free and members of the site may also download, copy, edit and print unlimited legal documents for their own personal or business use. Visit RealDealDocs.com for more information, membership options, and free legal document searches.

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About : RealDealDocs.com is a leading online legal document resource offering millions of sample legal agreements, contracts and clauses. Members can edit, print and download copies of real legal documents used and drafted by the top law firms for both Fortune 500 Companies and small cap operations.
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