Severance Payments That Work

We know that letting go of employees is emotionally difficult. It's also administratively complex - with agreements that provide for payments today, ongoing obligations from the employee, and no real way to enforce or remind former employees of these obligations without expensive litigation.

Keep solves these issues and more with a platform that delivers fully managed, enforceable, and automated severance payments with better tax & accounting treatment. We also handle collections and repayment should an employee breach their obligations.

Although severance agreements are intended to protect employers from various potential challenges, they rarely achieve these goals because the severance payment is made upfront. These upfront severance payments lack adequate protections for the employer and an easy way to manage post-termination obligations and communications.

Former employees too often breach their severance agreements by violating non-competes, non-solicits, slandering their former employer, or violating confidentiality obligations.

Keep dramatically improves adherence to your severance agreements.

Increases likelihood of compliance with obligations through a unique vesting approach

Payments vest upon conclusion of obligations outlined in the Severance Agreement (confidentiality, return of equipment, non-solicitation/non-competition)

Withhold in treasury “tax portion” of severance payment, creating cash flow / interest opportunities

Avoid issuing corrected 1099s/W2s by delaying the tax document until compliance is completed and payment is appropriate

Automated system

Fully automated system for severance agreement execution and payment.

Structured payments

Structured payment as a 0% interest loan to former employees with Keep as the intermediary, ensuring better compliance to obligations due to credit impact if there’s a breach and a failure to repay.

Easy-to-use dashboards

Seamless UI dashboards for both employer and each terminated employee.

Tracking and communication

Tracking of vesting period with automated messaging regarding milestones.

Managed collections

Fully managed and automated collection of any amount due back to employer.

Tax reporting

Full reporting for 1099/W-2 issuance upon vesting milestone(s).

Automated system

Fully automated system for severance agreement execution and payment.

Structured payments

Easy-to-use dashboards

Seamless UI dashboards for both employer and each terminated employee.

Tracking and communication

Tracking of vesting period with automated messaging regarding milestones.

Managed collections

Fully managed and automated collection of any amount due back to employer.

Tax reporting

Full reporting for 1099/W-2 issuance upon vesting milestone(s).

Employer test-test

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Tuition Reimbursement

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Severance Payments That Work.

The Danger with Severance Today

The Smarter Approach with Keep

With Keep's easy-to-use platform, you can create and send severance payments that are tied to critical terms in severance agreements such as confidentiality, non-disparagement, non-compete, equipment returns, and more.

The benefits of delivering your severance agreements with payments structured through Keep’s proprietary payment platform include:

Increases likelihood of compliance with obligations through a unique vesting approach

Payments vest upon conclusion of obligations outlined in the Severance Agreement (confidentiality, return of equipment, non-solicitation/non-competition)

Withhold in treasury “tax portion” of severance payment, creating cash flow / interest opportunities

Avoid issuing corrected 1099s/W2s by delaying the tax document until compliance is completed and payment is appropriate

Keep Platform Features

Book a demo to see how Keep can help.

Ensure obligations are met while saving time and headaches with smarter severance payments.

More Keep use cases