Nature of Payments Provision

Any amounts due under the termination provisions are in the nature severance payments, liquidated damages, or both, and shall fully compensate the executive, dependence, beneficiaries in a state of the executive for any and all direct damages and consequential damages that they suffer as a result of the termination of the executives employment, or both, and are not in the nature of a penalty.

General information, not legal advice. Treat this as a drafting starting point, not a finished policy — employment law varies by jurisdiction and changes often, so have a licensed attorney tailor it to your situation before you rely on it.

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