Severance Agreement – Neutral Reference (New York City Lawyer Explains)
EXPLAIN MY SEVERANCE: WHAT IS IT? The Neutral Reference is a promise by your employer that, if someone calls in for a reference, the employer will only provide certain information. Typically, this information is limited to the term of your employment and positions held. Sometimes, albeit rarely, a neutral reference will also include salary information. […]
NYC Severance Agreement – Non-Disparagement Clause
EXPLAIN MY SEVERANCE: WHAT IS IT? The Non-disparagement clause is your promise not to say bad things about the company. Non-disparagement is part of the consideration that you give the company in exchange for severance. EXPLAIN MY SEVERANCE: WHAT CAN AND CAN’T I DO? While every agreement is different, generally, these agreements prohibit you from […]
Severance: Non-Admission Clause (NYC Lawyer Explains)
EXPLAIN MY SEVERANCE: WHAT IS IT? The Non-admission clause is a statement by your former employer that, even though they are paying you a severance, they are not admitting to anything. In addition to non-admission, the company usually also expressly denies having done anything wrong. EXPLAIN MY SEVERANCE: WHAT DOES IT MEAN? A non-admission clause […]
Severance Agreement – No-Reemployment Clause (New York City Lawyer Explains)
EXPLAIN MY SEVERANCE: WHAT IS IT? The No-reemployment clause prevents a departing employee from coming back to the company. This is part of the consideration that goes to the company. In exchange for severance (money, benefits, reference, etc.), the company gets, among other things, a promise from the employee to go away. And stay away. […]
No Consideration Absent Execution Clause in Severance Agreement (NYC Lawyer Explains)
EXPLAIN MY SEVERANCE: WHAT IS IT? The No Consideration Absent Execution Clause makes clear that the money (or other consideration) the employee gets pursuant to a severance agreement is separate and apart from anything else the employee is otherwise entitled to. For any contract (and severance agreements are contracts) to be valid, each party has […]
If I Negotiate My Severance, Will the Company Pull the Original Offer?
Here’s the scenario. Company lays off employee. Company offers employee $25K severance. Employee believes he/she should get more than $25K, hires lawyers to negotiate, but is afraid that Company will respond by taking the original $25K off the table. Will the Company pull the offer? It is possible, but not plausible. Let’s break it down: […]
Should I Negotiate My Own Severance Package?
Short Answer: Probably Not. Keep in mind, an employment lawyer is writing this – I’m biased! If you are offered a severance and want something more, it is time to negotiate. Many people hire employment attorneys to negotiate on their behalf. Others try to do it on their own. : There are advantages and disadvantages […]
New York City: Does My Severance Agreement Supersede My Non-Compete?
Short answer – it might. But if it does, that means that your employer was probably pretty sloppy. Most severance agreements contain an “Entire Agreement” clause that reads something like: This Agreement contains the entire agreement between the Company and you regarding your termination and supersedes and renders null and void any and all prior […]
Severance Agreement? Get a Lawyer to Review It
Never sign a severance agreement before you completely understand it. A severance agreement can impact your future opportunities, your earning potential, and even your overall career trajectory. Keep in mind, your severance agreement was written by and for your employer – not for you. Most employees who are offered severance should hire an experienced severance […]
Severance Agreements and References: NYC and Cleveland Lawyers Can Help
Typically, severance agreements handle employee references one of three ways. Sometimes the agreement is silent on the topic of references altogether. Commonly, severance agreements contain a “neutral reference” clause. And rarely, they include a letter of reference. What should I do if my severance agreement has no provision regarding a reference? And what is a […]