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In the previous video, the importance of effectively managing employee performance was discussed in light of NFL's Black Monday and the inevitable terminations in most workplaces. A termination checklist was shared to ensure compliance and a seamless transition. Tip #1: Determine if the employee is employed at will or under an employment agreement, ensuring consistency with terms and checking for severance provisions if termination is without cause. Tip #2: Gather and review additional agreements and documents outlining rights and obligations. Tip #3: Review state final payment rules to ensure compliance.