McDonald’s Corporation is asking for an extra large order of severance to be paid back. The burger joint giant announced that it is suing former CEO Steve Easterbrook for the $40 million he was paid after being let go last year because of a relationship with a staff member which violated company policy.
After Esterbrook was let go and paid this supersized severance, new relationships in violation of McDonald’s policies were discovered. There were in fact a total of three other relationships, one of which included a gift of company shares after the relationship began and the requisite inappropriate photos and communications using company email.
The company alleges that Easterbrook, who was fired without cause due to a technicality, lied when questioned by internal investigators. McDonald’s claims that the severance would not have been been paid had they known the full extent of Easterbrook’s violations. Easterbrook has since made efforts to have the suit dismissed.
A severance agreement is a contract between an employer and an employee defining the terms of the employee’s separation from the company. Severance agreements are frequently provided as part of the onboarding process when an employee is hired, however they may be also be drafted to address specific situations, most especially when there is concern of future litigation.
Here are 3 documents from McDonald’s Corporation currently available on RealDealDocs.com:
Securities And Exchange Commission Form 8-K Report
Rule 13a-14(a) Certification
Exhibit 5 Legal Opinion
Many more severance agreements are available on RealDealDocs. Here are just two examples:
Magma Design Automation Employment And Severance Agreement
Griffon Corporation Severance Agreement
Whatever documents, clauses, agreements, or contracts you’re drafting, RealDealDocs has you covered. We’ve done the work of compiling real-world documents to save you time and attorney’s fees. Furthermore, RealDealDocs has categorized these documents and made them searchable using the same proprietary technology that is deployed at some of the largest law firms in the country. Visit RealDealDocs today to see what we can do for you.