A model severance pay plan that is structured to be a severance arrangement within the meaning of Section 3(2)(B)(i) of the Employee Retirement Income Security Act of 1974 (ERISA) and related regulations issued by the Department of Labor (DOL). This plan is intended to be administered and maintained as an employee welfare benefit plan under Section 3(1) of ERISA (and is not an employee pension benefit plan or pension plan under Section 3(2) of ERISA). This Standard Document has integrated notes with important explanations and drafting tips.