How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Joseph Your Own Question
Joseph, Lawyer
Category: California Employment Law
Satisfied Customers: 5299
Experience:  Extensive experience representing employees and management
Type Your California Employment Law Question Here...
Joseph is online now
A new question is answered every 9 seconds

What is the proper severance to pay a President of a corporation

This answer was rated:

What is the proper severance to pay a President of a corporation after 8 years of employment
Hello and welcome to JustAnswer.

How much does the President of the corporation receive in salary?

Is he being discharged 'for cause' or is it due to no fault of his own that he is being terminated?
Customer: replied 3 years ago.

No Fault

Unfortunately, since severance isn't required by any employer, the amount of severance given to an employee varies depending on the company and the rights that the employee would be giving up (and whether he or she would have a viable cause of action).

That said, considering the length of service and the role as President, it would be reasonable for the President to request six months of severance pay. Although most employers typically only offer employees 3 months of severance at most.

Again, this would depend on whether the President may have a cause of action against the employer for discrimination due to a protected characteristic or any other cause of action.
Joseph and other California Employment Law Specialists are ready to help you

Related California Employment Law Questions