I Have Been Asked to Sign a Severance Agreement, Can I Negotiate?
Yes—while there will likely be limits on the scope of what you can accomplish, some of the terms that employees can often negotiate are the amount of money paid, the scope of a non-competition and/or a non-solicitation agreement along with the sum of the severance pay. Depending on how fixed your employer’s policies are, you may be able to negotiate continued retention of a cell phone number that you have used for a long time or retention or retrieval of personal information stored on a surrendered work phone or computer. In addition, so long as your employer does not have a fixed policy with regard to providing only a neutral employment reference, you may be able to negotiate what prospective employers are told about you or to whom such inquiries can be directed.
MOST IMPORTANTLY – YOU MIGHT BE ABLE TO NEGOTIATE HOW MUCH SEVERANCE YOU ARE PAID!
What Won’t I Be Able to Negotiate?
One of the things that is almost certainly non-negotiable is your release of claims against your employer. This means that, if you would like to receive the payment that is offered in a severance agreement, you must agree that you will not bring a lawsuit or other type of claim against your employer. You should also understand releases most often require you to discharge claims you may have against your employer without the employer releasing any claims against you. In addition, most provisions of a severance agreement, along with things you did during the course of your employment, will need to be kept confidential.
Will My Employer Pay Me More Money Than What I Have Been Offered?
The best answer here is that it depends. It depends on the reasons why you are leaving your employment. It depends on what types of things may have happened during the course of your employment. And it depends on whether any of these things raise legal issues.
HIRE A LAWYER, FIGURE OUT YOUR LEVERAGE, GET ORGANIZED AND FIGHT FOR YOURSELF!
There are many other concerns that may be specific to your employment situation that could be negotiated and which an employer might be willing to change or add to a severance agreement. If you would like to discuss your situation with us, including whether you should sign an agreement you have received, please feel free to call or email us at any time. You will be on the phone with an attorney within 24 hours.