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
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
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. :
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
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
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
Our firm specializes in negotiating severance agreements for recently terminated employees. We’ve negotiated severance agreements all over the country from our offices in New York City and Cleveland. Since we formed our firm, we have improved severance for over 93% of our clients. You can read our reviews on Google,
It has to be tempting to sign a severance agreement right away. You were just terminated, you are probably wondering about how you are going to pay bills, make ends meet, find your next job, etc. The severance you’ve been offered seems like a lifeline. Maybe it is… BUT YOU
This one is easy: Money! I get it. Benefits, especially medical benefits, are incredibly important. But just because benefits are very important, that does not mean that you should focus on them when you negotiate your severance. Instead, you should focus on money. The reason for this is simple –
If you are asked to leave your job involuntarily, your employer may ask you to sign a severance agreement—an agreement that, once you sign, will entitle you to a sum of money. On the flip side, you need to understand that the employer is seeking something in return for that
