Employee separations can be fraught, and your company (and the terminated employee) deserve them to be done correctly.
Senior Consultant Eric Mochnacz was featured by law firm Blythe Grace in their list of considerations for the separation and severance process.
If you want to offer an employee severance upon separation, you will want to engage with legal counsel to ensure the reason for separation is legal.
He also provides guidance on the decision to include a Separation and General Release. His full thoughts can be found in the full article here.