Severance Agreements Can Be Negotiated
When the employment relationship ends, a severance agreement can provide some financial security and stability for the departing employee. However, they often come with strings attached. It is important for departing employees to understand the terms and conditions of these agreements. Often there are questions, ranging from unpaid vacation time issues to continuation of health benefits or unemployment benefits eligibility. Before you sign away your rights in a severance agreement, you should know what your rights are.
At NachtLaw, we provide skilled representation for employees who have encountered difficulties in the workplace. We review severance agreements provided by employers and help departing employees fully understand the terms of the agreement. When necessary, we have the extensive experience and resources needed to handle the negotiation of severance agreements, whether you are an hourly employee or a senior executive. Contact our offices today to schedule a confidential consultation with an experienced employment lawyer. Don’t sign anything until you have had the opportunity to discuss your potential agreement with an attorney.
What Is A Severance Agreement?
Unless you were promised a severance package in your original employment agreement or under the terms of a company policy, providing such compensation is entirely at the discretion of the employer. Under certain circumstances, an employer will choose to provide a severance agreement to ensure finality to the relationship and prevent future litigation. As an employee accepting a severance package, it is important to truly understand the terms of the severance agreement.
You may be surrendering your right to pursue future legal claims against your employer, such as discrimination or wrongful termination. You may also be asked to sign a noncompete agreement or other promise not to solicit customers. Although a severance package may provide you with short-term financial security, you must understand the sacrifices you may accept with such an agreement. Before you sign away your rights, make sure that you fully understand your options.
Get In Touch Today
Our attorneys will work diligently to protect you. Whether you need help negotiating the terms of deferred compensation or simply want to ensure that you understand the terms of your severance agreement, come to our offices today. Contact our firm to schedule a confidential consultation with one of our attorneys.