Oftentimes, an employer may ask an employee to sign a severance agreement when one or both parties decide to terminate the employment relationship. Smart employers understand that they are best served by establishing a clean break from former employees. This is typically accomplished through the use of a release agreement, which provides for the waiver and release of any legal claims an employee may have against the employer.In exchange, the employer will offer compensation and other possible severance benefits that the employee is not otherwise entitled to receive. Usually, employers have no legal obligation to offer a severance package. Consequently, severance agreements are generally one-sided and favor the employer.
If you are offered the option of a severance agreement, we can readily identify the pros and cons of each facet of the employer’s offer. This often entails identifying areas for improvement. We can assess whether you have any claims to release. If so, we can estimate the value of those claims for the purpose of determining whether the employer’s offer is reasonable. We can also help you understand the claims that you cannot legally waive and release (even though the agreement proposed by the employer may say otherwise). By letting us handle the severance negotiations on your behalf, you can be assured that you have covered all of the bases, that you understand the terms of the agreement, and that you are getting the best deal possible.