What follows is an example of a severance program, which we describe in greater detail in How to Negotiate an Employment Contract.
Be aware that severance agreements such as the one below can vary widely from company to company and depending on the position being hired. This should only be used for reference and not as the basis for constructing one's own severance package.
Should X terminate your employment for a reason other than "Cause" (as defined below), or should you terminate your employment for "Good Reason" (as defined below), X agrees to continue your base salary for a period of twelve (12) months after your date of termination and provide you with comparable benefits for the twelve (12) months following your date of termination, to the extent permitted by the terms of X's benefit plans and applicable law.
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