Severance / Exit plans and agreements are an inevitable part of the employment environment. Should an employee, senior manager or director choose to leave your business and/or should a business itself decide that this would be the appropriate way forward, protecting the business will be essential.
In order to do this, you may need to negotiate a Settlement Agreement so as to avoid a long and expensive dispute and/or to secure a clean and certain outcome, where the departure is managed properly and in an orderly fashion. There can therefore often be great merit in offering a severance package (via a Settlement Agreement), including a financial settlement and where a number of other wider objectives can be achieved.
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