Negotiate Your Severance Agreement with a Professional on Your Side
Sometimes when employment ends, an employer agrees to provide a departing employee with a separation or severance agreement, usually in exchange for an agreement that the employee will give up any legal claims they may have against the employer. There are many issues to consider when evaluating the severance agreement you’ve been offered. How much compensation will be paid and for how long? Are you entitled to more compensation, in exchange for your release of claims? Will you be provided anything else of value such as favorable references, relocation benefits, health insurance, job transition assistance, or accelerated vesting of equities? Is the agreement fair regarding your right to unemployment compensation? Do certain obligations, such as an agreement not to disparage, bind both you and the employer? You will also need to consider terms in the separation agreement that may restrict your rights or limit future career opportunities, such as confidentiality obligations, cooperation clauses, or non-competition, non-solicitation or non-disclosure obligations.
Our attorneys have negotiated the terms of hundreds of severance agreements. We can work with you to analyze the agreement your employer has proposed and help insure that its terms are fair and lawful and that they reflect everything to which you may be entitled. Contact us today to arrange for a consultation.