Employers are offering departing employees severance agreements in greater frequency in recent years. These agreements typically require the employee to waive all legal claims and rights against the employer in exchange for additional compensation above and beyond any outstanding salary obligations. It is critical to have experienced legal counsel carefully review any proposed severance agreement to make sure that it is fair and equitable. Depending on the circumstances of your departure, you may be able to negotiate for more compensation than what your employer originally offers. Additionally, it is important to make sure that you are not being pressured to waive your rights in exchange for something your employer owes you anyway, such as accrued vacation pay.
The Law Office of Joseph L. Sulman regularly provides advice and counseling to clients with proposed severance agreements. We can usually review these agreements and propose modifications or strategy options in one to two hours.