Severance Package Hide Text Fields For Free

When you sign a severance agreement, you agree to specific clauses contained within.Thus, if you feel that your termination was unlawful, but your severance agreement states that you cannot bring any unemployment discrimination claims, you likely cannot sue your employer.

Severance packages may include salary continuation; vacation pay; continued, employer-paid period of benefits coverage; employer-paid COBRA premiums; outplacement services; counseling and resume workshops; and more.

How long do I have to sign a severance agreement? The severance agreement usually tells you how long you have to review and sign it. Most severance agreements give employees at least 21 days to consider the agreement.

A severance agreement may be a sign that you and your employer are not departing on the best terms.Fortunately, you may be able to negotiate a severance package with a non-disparagement clause that applies to both you and your former employer so both parties cannot say anything negative about the other.

Step 1: Articulate Your Goals. Step 2: Identify Compensation. Step 3: Determine Specific Waivers, Releases of Claims, Acknowledgments and/or Contractual Assurances to Include in the Agreement. Step 4: Arrange to Secure Employer-owned Property. Step 5: Draft the Agreement.

What should be included in a severance agreement?Compensation details.Confidentiality rules following termination.Date of employee's termination.Agreement from both parties in the form of a signature.Details about how long the employee will continue to have access to benefits.More items...

If you are serious about maximizing your opportunity for a better severance package, you should consider hiring an experienced severance attorney to review your severance agreement, evaluate your employment history and help you negotiate your severance package.