Severance agreements are legal contracts between an employer and an employee that outline the terms of the employee’s departure from the company. Severance agreements can include a variety of provisions, such as severance pay, benefits continuation, and non-compete and non-disclosure agreements.
Severance agreements can be important for both employees and employers. For employees, severance agreements can provide financial security during a transition period and help them to negotiate a more favorable exit package. For employers, severance agreements can help to protect the company from legal claims and to maintain a positive public image.
If you are an employee who has been terminated or discriminated against you may be considering signing a severance agreement. However, it is important to understand your rights and to have an attorney review the severance agreement before you sign it. You may be entitled to more money or there may be provisions that need to be modified to protect you.
If you have any questions about severance agreements, or if you need assistance negotiating a severance agreement, please contact our law firm today. We offer paid consultations to discuss your case and to help you make the best decision for your future; the consultation includes a review of the severance agreement as well. If you are not able to pay for an attorney’s review of your agreement, you can talk to our intake for a free case evaluation.
- According to a 2023 survey by the American Bar Association, 75% of employees who signed severance agreements said they were satisfied with the terms of the agreement.
- However, a 2022 study by the National Employment Lawyers Association found that 40% of severance agreements contained provisions that could harm the employee’s future employment prospects.
Benefits of having a lawyer review your severance agreement:
- An experienced lawyer can help you to understand the terms of the severance agreement and to identify any potential problems.
- A lawyer can also help you to negotiate a more favorable severance agreement.
- If you do sign a severance agreement, a lawyer can help you to ensure that the employer complies with the terms of the agreement.
Contact us today to schedule a free case evaluation or paid consultation with an attorney to review and discuss the agreement and your rights.
If you have any questions about severance agreements, or if you need assistance negotiating a severance agreement, please contact our law firm today.