“Severance pay” v. “continued salary”
The Court of Appeals has reversed the District of Oregon and held that an EPLI insurer must indemnify an employer for settlement payments it made to an employee based on employment contract provisions relating to salary continuation and stock options.
Salary continuation v. severance pay: The employment contract guaranteed Mark Lehnert six years unreduced pay […]
Employment agreements between executives and their publicly traded companies are often attached to 10-K reports filed with the SEC. SEC filings are available free, on-line. These agreements can set a baseline for other parties who may be negotiating or litigating with the corporation on similar issues, such as non-compete clauses, severance packages, or job security.
Yesterday’s Anchorage Daily […]
A company called Onecle sponsors two sites that offer help on drafting employment contracts, using actual contracts from major American corporations, including many companies that do business in Alaska.
The first site collects hiring contracts from such companies as ARAMARK, Fluor, Home Depot, Marsh & McLennan, and Outback Steakhouse.
The other site posts severance agreements from similar companies, […]
The 9th Circuit concludes today that the “ordinary and popular” meaning of the phrase “wages and salary” is “remuneration for services.” Here, severance pay was not sufficiently linked to services (presumably services while employed). The Court explained:
Gilliam’s severance pay was not for services, but for her voluntary termination of employment, confidentiality, non-competition, and waiver of claims against Nevada […]
