Employment Exit Package Notes
Oct 18 2022
Let's go over my exit package.
1. Cover letter basically saying COBRA information will be sent in a week and who to contact if I have questions.
2. Severance Agreement saying I wave my rights to sue for wrongful termination of any kind, that I'm receiving $x amount of severance, and that I will abide by the Proprietary Information Agreement I signed when I was hired.
3. California Unemployment Insurance Code section 1089 notice of termination.
4. 37-page Separation Packet to cover everything about what benefits I lose (pretty much everything) and which I still have (such as COBRA).
5. ADEA spreadsheet showing which positions were terminated and their ages. Must be a government requirement so that I can determine if I need to sue for age discrimination or not.
Dates
Received FedEx box for returns = Tue Oct 18
Submit return of "company" laptop = Sun Oct 23
Sign Termination Agreement, 3 weeks = Mon Oct 24
Revocation Period, 1 week after signing Termination Agreement
COBRA enrollment, 60 days = Fri Dec 2
COBRA coverage, 18 months = Mar 2024
2022 W2 available at ADP web site = Jan 31 2023
1. Cover letter basically saying COBRA information will be sent in a week and who to contact if I have questions.
2. Severance Agreement saying I wave my rights to sue for wrongful termination of any kind, that I'm receiving $x amount of severance, and that I will abide by the Proprietary Information Agreement I signed when I was hired.
3. California Unemployment Insurance Code section 1089 notice of termination.
4. 37-page Separation Packet to cover everything about what benefits I lose (pretty much everything) and which I still have (such as COBRA).
- Since we went to flexible vacations there is no accrued vacation to pay out.
- You will be able to download W2 from ADP portal.
- Severance is 4 weeks pay for 1st year of employment, plus 1 week per additional year, max of 26 weeks. Minus pay that you got while on WARN (after you got notification of being laid off but before actual termination). Though minimum severance is 2 weeks regardless.
- Unemployment info for filing for unemployment benefits with government.
- You have 60 days to enroll in COBRA, Oracle pays first month for you (though later on it specifies 1st month only if you received Enhanced Severance Pay so not me). You can stay in COBRA for 18 months.
- You can continue Life Insurance though cost will go up since Oracle subsidizes it. Life Insurance company will contact you in a couple of weeks.
- For Long Term Disability insurance info will be in COBRA packet.
- Health Savings Account. You can still contribute as long as you're in a qualified health plan. I assume if I continue COBRA I can contribute to my HSA.
- Five days to initiate return equipment after FexEd packaging received.
5. ADEA spreadsheet showing which positions were terminated and their ages. Must be a government requirement so that I can determine if I need to sue for age discrimination or not.
Dates
Received FedEx box for returns = Tue Oct 18
Submit return of "company" laptop = Sun Oct 23
Sign Termination Agreement, 3 weeks = Mon Oct 24
Revocation Period, 1 week after signing Termination Agreement
COBRA enrollment, 60 days = Fri Dec 2
COBRA coverage, 18 months = Mar 2024
2022 W2 available at ADP web site = Jan 31 2023