severance pay if hired back?
I was offered a severance pay pkg. If I accept employment with the same company but another position, can I keep the severance pay? or only after the date of my termination? Then am I hired back as a new employee and is this not to my benefit?
The term date is June 30th. I have 3 job offers within the same company but have not taken anything yet. Thanks
Answers (1)
The answer depends on the language of the severance agreement
Jim:
Your severance agreement should answer this question. It should say that you are entitled to a specific benefit as a result of your termination. If it says nothing more, you probably can claim the severance whether or not you accept a new position there or with some other employer. The key will be to satisfy the terms set forth in the agreement.
If you want me to review the agreement, call Cheryl Green at 330.665.5445, ext. 0 to set up a time for me to review it and discuss it with you.
Regards,
Neil.
posted by Neil Klingshirn | Jun 18, 2003 3:20 PM [EST]
Jim:
Your severance agreement should answer this question. It should say that you are entitled to a specific benefit as a result of your termination. If it says nothing more, you probably can claim the severance whether or not you accept a new position there or with some other employer. The key will be to satisfy the terms set forth in the agreement.
If you want me to review the agreement, call Cheryl Green at 330.665.5445, ext. 0 to set up a time for me to review it and discuss it with you.
Regards,
Neil.
posted by Neil Klingshirn | Jun 18, 2003 3:20 PM [EST]
Answer This Question
Sign In to Answer this Question
Related Questions with Answers
Contact Neil Klingshirn
Neil Klingshirn
AV rated Super Lawyer and Employment Law Specialist
Independence, OH
Phone: 216-382-2500