Texas Employee Release Agreement
Will they pay me for them too? No, unless there is a specific agreement on this. This is something that is common in some industries and/or circumstances, but ultimately it is simply a voluntary “agreement” between the company and the outgoing employee. The company basically says, “We pay you X dollars if you leave, so to speak.” And when the employee says “OK,” both parties have an agreement. If the company decides not to make the offer, they save the severance pay, but they take the risk of being sued if you have a right against the company. A severance pay agreement is a contract between an employer and a worker that documents the rights and obligations of both parties upon termination of the employment relationship and beyond. As a general rule, a termination agreement grants the worker a payment in exchange for a benefit for the employer.