These programs couple severance benefits
, such as cash payments to cover lost salary and bonuses, plus continuation of health and welfare benefits, with specific plan provisions previously described.
Lathrop & Gage, which represents Dickens, said the investigation determined he was fired "without cause" and, therefore, is entitled to the additional severance benefits
requested in the Feb.
The promised severance benefits
in such a case are considered part of the employer's pay/benefit package, which compensates the employee for services.
In that case, Lockheed gave severance benefits
to employees who were going to be laid off as a result of a corporate merger.
Reuters quoted the Dow Jones memo as saying that those losing their jobs would get full severance benefits
Alberto-Culver expects to take restructuring charges of $13 million and $3 million in the first and second quarters, respectively, of fiscal 2007, primarily for severance benefits
Termination benefits include early-retirement incentives, severance benefits
, and other termination-related benefits.
It would establish guidance for benefits, such as early-retirement incentives and severance benefits
that are provided as the result of voluntary or involuntary terminations, and is intended to enhance comparability of financial statements by requiring governments to account for similar termination benefits in the same manner.
We are committed to helping our employees transition to new jobs inside and outside the company, and to offering severance benefits
for those who leave the business.
Plaintiff Matthew Whitley will receive $100,000 in cash, some $140,000 in severance benefits
and $300,000 for attorneys' fees.
The proceeds will be used to pay workers 100% of their severance benefits
and cover other liabilities, Chiquita said.