As we discussed on Monday, the downturn in the market for industrial fans in the Washington region has led the company to close the regional office. As a consequence, your position has been eliminated.
To confirm our conversation, you will terminate your employment on June 22 and receive severance pay equal to three months' salary. The company will pay your medical insurance for the remainder of the year. In lieu of profit sharing for this year, you have agreed to accept a one-time payment of $5,000. Your retirement benefits will be retained by the company until we receive instructions from you.
