Severance Agreement Negotiation Lawyers
Severance agreement, a lasting agreement between an employee and employer. Before terminating his job an employee has to sign a severance agreement, according to which all the settlements are written on the behalf of employee and employer. After signing this an employee is not related to the company anymore and can’t sue the organization for any lawsuit.
These agreements are prepared by the organization then it is obvious that it will be in the favor of the company. So before signing this, an employee must consult a Severance Agreement negotiation lawyer, who will assist him and tell about if there is any wrong point in that agreement.
When should you contact a severance agreement attorney?
If you receive any document which requires a signature in order to receive money:
When you get a notice of severance agreement, please ensure that there are no Severance payment subjects to a mitigation offset. According to this, you have to pay money to the company while terminating your job. Before signing this, you must consult an attorney who will assist you in a better way. If there is any point in that is required to be eliminated then, you can say to the organization to eliminate that point.
Why do you need an attorney for a severance agreement?
Listed below are the top reasons you need an attorney for a severance agreement.
1)The Severance Payment:
If a company asks you for the severance payment you need to consult an attorney. An attorney can help you by ensuring that the document is perfectly ready for signing the agreement, it contains more than the severance payment you are already entitled to. In addition, They can help you get a sense of whether the severance amount is consistent with industry standards for your particular situation.
2) Employee Benefits:
A severance agreement should explain what benefits the employee will receive after separation from the employer. Often times, if severance will be paid out over a time period, it might be possible to negotiation, and extension of those health benefits during the period of the severance payout, if there is no such benefit mention in the agreement you need to consult an attorney.
3) Non-Disparagement and References:
Severance agreements usually contain language that states the former employee will say nothing disparaging about the former employer or any of its management or employees. They will assist in negotiating that this applies both ways. Similarly, references are important going forward and it should be decided in advance what can and cannot be said to, and by whom, to one of your potential employers.
4) Make Sure It Contains Everything:
A handshake deal or an under the table understanding that certain things will or won’t happen is not good enough. Any oral agreement or promise an employer makes will not be binding unless it is contained in the four corners of your severance agreement. For making sure that all an employer promises and obligations are clearly set out in writing you need an attorney.
5) Proprietary Information:
The use of proprietary information by a former employee in their future endeavors is something an employer will try to restrict. They will work with you to identify and document the return of all confidential and proprietary information at the time your severance agreement.