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Severance Package Letter
"I need a Severance Package Letter for a senior technology executive being made redundant due to restructuring, with a termination date of March 15, 2025, including provisions for unvested stock options and extended health benefits."
1. Letter Header: Company letterhead, date, and employee's details
2. Confirmation of Termination: Clear statement of employment termination, including last working day and reason if appropriate
3. Notice Period Arrangements: Details of notice period or payment in lieu of notice
4. Severance Payment: Breakdown of statutory severance payment calculation and amount
5. Final Payment Details: Breakdown of all final payments including unused annual leave, pro-rata bonus if applicable
6. Benefits Termination: Information about termination of benefits including medical insurance, MPF arrangements
7. Company Property: Requirements for returning company property and timeline
8. Confidentiality Obligations: Reminder of ongoing confidentiality obligations
9. Tax Information: Statement about tax treatment of payments
10. Full and Final Settlement: Statement confirming this represents full and final settlement
11. Acknowledgment: Space for employee signature and date to acknowledge receipt and acceptance
1. Outplacement Support: Details of any career transition services offered
2. Reference Letter: Information about providing employment references
3. Non-Compete Provisions: Reminder of any existing non-compete obligations, if applicable
4. Share Options/Long-Term Incentives: Treatment of outstanding equity or long-term incentive awards
5. International Assignment Provisions: Special provisions for employees on international assignments
6. Legal Consultation Allowance: Details of any allowance for seeking legal advice
7. Medical Coverage Extension: Any extended medical coverage arrangements
8. Release Agreement: Additional section if a release of claims is required
1. Schedule 1 - Payment Calculation: Detailed calculation of severance payment and all other payments
2. Schedule 2 - Company Property List: Itemized list of company property to be returned
3. Schedule 3 - Benefits Summary: Detailed summary of benefit termination dates and any conversion rights
4. Appendix A - Tax Information Sheet: Detailed information about tax treatment of various payment components
5. Appendix B - Handover Checklist: Checklist for completion of handover tasks
Authors
Financial Services
Banking
Technology
Manufacturing
Retail
Professional Services
Healthcare
Telecommunications
Real Estate
Construction
Education
Hospitality
Logistics
Insurance
Media and Entertainment
Human Resources
Legal
Finance
Payroll
Compliance
Executive Management
Company Secretarial
Chief Executive Officer
Chief Financial Officer
Managing Director
Senior Manager
Department Head
Project Manager
Account Manager
Software Engineer
Sales Representative
Administrative Assistant
Operations Manager
Marketing Executive
Research Analyst
Customer Service Representative
Production Supervisor
Human Resources Manager
Legal Counsel
Financial Controller
Business Development Manager
Technical Specialist
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