Severance Agreements

News & Analysis as of

First Circuit Reviews Top Hat Plan Benefits Denial for Abuse of Discretion

The First Circuit recently applied an abuse of discretion standard of review to a claim for top hat plan benefits. Plaintiff Robert Niebauer, a former executive of Crane, brought a claim for executive severance plan benefits...more

Federal agencies attack employment agreements, and what you can do about it: 8 steps to consider

The US Securities and Exchange Commission recently caused shockwaves when it announced its first enforcement action against a company for using an allegedly improper confidentiality agreement during internal investigations....more

SEC Blows the Whistle on Confidentiality Agreements

Thanks to a recent enforcement action brought by the U.S. Securities and Exchange Commission (SEC), it may be time to review and revise the confidentiality provisions in employment agreements, severance agreements, employee...more

China: End of Cheap Labor Should Not Come As a Surprise

If you are an avid shopper, you may have noticed in the past holiday season that fewer and fewer items on the shelf had the familiar “Made in China” label. In 2013, the International Monetary Fund (IMF) forecast that the era...more

[Event] What Employers Need to Know about Attracting, Managing and Separating from Their Employees - April 30, Houston, TX

The Greater Houston Partnership will hold a continuing education series "What Employers Need to Know about Attracting, Managing and Separating from Their Employees: Current Legal Compliance and Talent Management Issues."...more

Petition Urges DOL To Target Contractual Clauses Discouraging Whistleblowing

The Government Accountability Project (GAP) and Zuckerman Law recently petitioned the U.S. Department of Labor (“DOL”) to issue rules and guidance prohibiting “de facto” gag clauses in settlement and severance agreements that...more

Companies Should Monitor Deferred Compensation Arrangements For Section 409A Compliance Purposes

Given the complexity of the rules under Section 409A of the Internal Revenue Code, which govern the timing and taxation of payments made under non-qualified deferred compensation arrangements (NDCAs), companies are encouraged...more

The SEC Will Be Your Employment Law Agency, Too

The nature of the SEC’s business a regulator of public companies lends a certain expansive aspect to its jurisdiction. That is, when your job as a government agency is to be sure public companies are making complete and...more

SEC Targeting Broad Employee Confidentiality Clauses

February 27, 2015 Authors: Gregory Keating and Harry Jones The Securities and Exchange Commission (SEC) has recently contacted a number of companies seeking every confidentiality agreement, nondisclosure agreement, settlement...more

Employee Who Was Sued By Former Employer Collects $271,000 From Employer

PCGH sued its former employee, Thomas Keck, to collect on an unpaid promissory note. Keck defended against the action by claiming that any money he owed PCGH was offset by monies PCGH owed him for unpaid bonus and severance...more

A Review Of Recent Developments Of Interest To Employers

In This Review: - 2015 Schedule of Seminars - Wage & Hour Developments - Discrimination, Harassment, and Retaliation Developments - Arbitration and Class Action Developments - Developments...more

15 For ’15: Employment And Labor Resolutions For The New Year

While the year is still young, here are 15 New Year’s resolutions that employers may want to make: 1. Make sure your “independent contractors” are really independent contractors. ”Independent contractors” are under...more

Court Dismisses EEOC's Challenge To CVS' Severance Agreement; Holds That EEOC Failed To Conciliate With CVS

The Equal Employment Opportunity Commission (the “EEOC”) made headlines earlier this year by filing a lawsuit attacking CVS Pharmacy, Inc.’s standard severance agreement, which the EEOC argued unlawfully restricts former...more

401(k) Plan Participant Waived ERISA Stock-Drop Claim

The D.C. Circuit affirmed the decision of a district court that Plaintiff Patrick Russell, a 401(k) plan participant, had knowingly waived his right to assert an ERISA stock-drop claim based on, among other things, the...more

EEOC’s Attempt to Limit Reach of Severance Agreements Hits Roadblock… Again

A federal judge in Colorado has once again stymied the EEOC’s efforts to successfully challenge an employer’s standard separation agreement as violating the Age Discrimination in Employment Act.  The decision in Equal...more

2014 EEOC Year In Review: Lots Of Action, Mixed Results

2014 has been a notable year for the U.S. Equal Employment Opportunity Commission. The agency has initiated historic litigation, issued significant new guidance and signaled increased scrutiny of background checks and...more

SEC’s 2014 Report on Dodd-Frank Whistleblowing Program: Key Takeaways and Trends Companies Should Expect for 2015

On November 17, the U.S. Securities and Exchange Commission issued its 2014 Annual Report to Congress on the Dodd-Frank Whistleblower Program and it is clear that the program is going strong. Following are six key takeaways...more

Don't Let the OWBPA Put a Rift in Your RIF

Are you considering a reduction in force (RIF) that includes a severance package for employees? Are some of the employees included in the RIF over the age of 40? Before you take another step, make sure you know the...more

How Should Employers Draft Severance Agreements Post-CVS?

Last month, a federal judge in Illinois dismissed a lawsuit brought by the Equal Employment Opportunity Commission contending that a standard release agreement used by the CVS drugstore chain violated the anti-retaliation...more

EEOC Lawsuit Against CVS Pharmacy Challenging Severance Agreements Dismissed

On October 7, 2014, District Judge John Darrah of the North District of Illinois dismissed the Equal Employment Opportunity Commission’s lawsuit against CVS Pharmacy. Equal Employment Opportunity Commission v. CVS Pharmacy,...more

Judge in Chicago Dismisses EEOC Suit Challenging CVS Health’s Severance Agreements

As we reported earlier this year (EEOC Files Suit Over Separation Agreement Language), the Chicago District Office of the Equal Employment Opportunity Commission (EEOC) filed suit against CVS Pharmacy alleging that the...more

EEOC Challenge to CVS Severance Agreement Dismissed Due to Agency’s Failure to Engage in Conciliation

Late last year the United States Equal Employment Opportunity Commission (EEOC) sued CVS in the Northern District of Illinois claiming that the retail pharmacy’s standard form severance agreement and release violated Title...more

Federal Court Dismissal of EEOC Suit Leaves Employers Hanging

In a closely watched ruling, an Illinois federal district court handed a victory to one particular employer, but ducked a broader ruling that would have provided general guidance to companies generally that are trying to...more

Federal Court Notes Flaws in EEOC Stance on Severance Agreements

In a closely watched case, a federal district court questioned the stance of the U.S. Equal Employment Opportunity Commission (EEOC) that a severance agreement and general release of claims offered to employees can violate...more

Court Dismisses EEOC’s Controversial Severance Agreement Lawsuit

As we reported in February 2014, the U.S. Equal Employment Opportunity Commission sued CVS Pharmacy in federal court in Chicago on a novel theory that the company’s standard separation agreement unlawfully deterred departing...more

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