Another common agreement that a business may enter into with an employee is a severance agreement. In the state of Texas, an employer is only obligated to pay severance pay that is documented as part of a written policy or agreement, or a verbal agreement. The business attorneys at Garcia-Martin and Martin are glad to help business owners understand the importance of severance agreements, as well as draft templates for the agreement.
Severance agreements equally protect both business owners and employees, so they are a legal document certainly worth the time and money that goes into creating them. Severance agreements in Houston often include an amount of salary pay per year of employment, extended insurance coverage, outplacement services to help the employee find a new job, and a reference letter.
At Garcia-Martin and Martin, we are proud to serve the greater Houston area, as well as communities within Fort Bend, Harris, Galveston, and Montgomery counties with our business and employment law services. If you are in need of severance agreements for your business, contact one of our business attorneys today!