Severance Agreements

When the employment relationship ends, a severance agreement can provide some financial security and stability for the departing employee. However, they often come with strings attached. It is important for departing employees to understand the terms and conditions of these agreements. Often there are questions, ranging from unpaid vacation time issues to continuation of health benefits or unemployment benefits eligibility. Before you sign away your rights in a severance agreement, you should know what your rights are.

At Kaplan , we provide skilled representation for employees who have encountered difficulties in the workplace. We review severance agreements provided by employers and help departing employees fully understand the terms of the agreement. When necessary, we have the extensive experience and resources needed to handle the negotiation of severance agreements, whether you are an hourly employee or a senior executive.

If you are in the process of negotiating a severance agreement or if you feel you've been taken advantage by your employer through your severance, Contact Kaplan & Associates, LLP ., for a consultation.

What is a Severance Agreement?

Unless you were promised a severance package in your original employment agreement or under the terms of a company policy, providing such compensation is entirely at the discretion of the employer. Under certain circumstances, an employer will choose to provide a severance agreement to ensure finality to the relationship and prevent future litigation.

As an employee considering a severance package, it is important to fully understand the terms of the severance agreement. You may be surrendering your right to pursue future legal claims against your employer, such as discrimination or wrongful termination. You may also be asked to sign a non-compete agreement or other promise not to solicit customers. This could seriously affect your ability to work for a competitor of your former employer or even to start your own business. Although a severance package may provide you with short-term financial solutions, you must understand the sacrifices and long-term restrictions that go along with such an agreement. Before you sign away your rights, make sure that you fully understand your options. Our attorneys will work diligently to protect you. Whether you need help negotiating the terms of deferred compensation or simply want to ensure that you understand the terms of your severance agreement, come to our offices today.