Severance Packages

Not all employers provide severance packages, but those who do often use them as a level of defense against any lawsuits that can arise from an employee’s termination. A severance package ensures that a terminated employee receives a certain amount of money to help them transition through sudden unemployment. To receive these benefits, an employee must usually sign a severance agreement that likely legally prohibits them from taking legal action upon termination.

It is critical that you understand your severance package before you sign it. The financial benefits are not always worth the sacrifice. Some employers will include provisions within the severance agreement that will restrict you from disparaging them, contacting any clients you worked with, or even signing on to work with competitors for years after you leave the company. Some contracts even prohibit legal action if your civil rights have been violated. It is always wise to seek legal guidance before negotiating severance options with your employer.

For an overview of the ways that I can help you negotiate your severance agreement and reach a satisfactory legal conclusion, call me at (866) 316-0555 to schedule a free assessment.