I was laid off and received severance payments where if I am earning salaries elsewhere during the severance payment period, my severance will be "offset" by my earnings. Does that mean if I earn $100 in salaries at another company, I will need to return the entire amounts I received during the severance "offset" period? Or does that mean I am returning just the difference for each day I am earning salaries elsewhere?
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Whoever wrote about talking to the lawyer. The “former VIACOM lawyer” gave too much info. Why ?.
Have a little respect. You gave that person up . You RAT 🐀.
so, i had a lawyer look this over AND consulted with an ex-viacom legal employee (lawyer). technically they can revoke the severance with this clause if you notify them (unsure about how the amounts work if your new job pays less than what you are being paid out by viacom). HOWEVER, this clause is not really enforceable, you do not need to notify them of new employment (and they have no way of finding out if you keep it to yourself/off social media), and lastly, the viacom lawyer told me in her career at viacom (14 years and also laid off), she has never seen them enforce this clause (it would make for bad press for the company, and they want to seem very pro-employee/great place to work). she said the purpose of it is for high profile executives who may accept another high profile role. i have plenty of viacom ex-employee friends now collecting double paychecks.
That means that your severance will be make up the difference for x period of months if your new job pays less. If you got the two part package, the following is how it was structured:
Part 1: Severance which is your full monthly salary + benefits for x number of months
Part 2:
a) If you don't have a job after Part 1 ends, severance which is your full monthly salary with no benefits but the option to purchase COBRA.
b) If you have a job that pays less than your job at Viacom did, for the period remaining, they will make up the difference between your new salary and your Viacom salary. It's quite generous really.
c) If you have a job that pays equal to or more than you made at Viacom, you must alert them and the conditional period ends.
I wouldn't worry about getting in trouble for posting the question here, you're not revealing trade secrets or anything
Don’t discuss this here. CALL HR. They will answer your questions.you could be tracked.or call a friend .discussing this here can void your severance .