Severance Agreements
Before you sign anything, make sure you know what you’re giving up.
Severance Isn't Just a Goodbye Gift
When an employer offers severance, they’re usually asking for something in return. That something is typically a release of claims, meaning you agree not to sue them. What you’re waiving can be worth significantly more than what you’re being offered.
Before you sign a severance agreement, you should know: Is this a fair deal? Am I leaving money on the table? Are there claims I don’t even know I have? Those are exactly the questions we help answer.
Before you sign a severance agreement
Severance agreements typically often require you to waive your right to bring legal claims against your employer. They may also contain non-compete clauses, non-disparagement provisions, confidentiality requirements, and other restrictions that could impact your future employment and rights.
Before you sign, you need to understand: Is the severance amount fair given your circumstances? Are you unknowingly releasing claims for unpaid wages, discrimination, or other violations? Do you have leverage to negotiate better terms? Are non-compete or other restrictive provisions reasonable and enforceable?
What We Review
We carefully examine the terms of your severance agreement, including releases of claims, confidentiality provisions, non-compete clauses, severance pay, and any restrictions that could affect your future employment. Our goal is to make sure you understand what you’re giving up and whether you’re entitled to more.
We CAN NEGOTIATE
Severance packages are not always final offers. Employers often expect negotiation, especially when the employee has leverage, strong tenure, evidence of a potential claim, or specific knowledge of company wrongdoing. We’ve helped clients leave with significantly better terms than what was initially offered.
Don't Wait
Severance agreements come with deadlines. Once you sign, it’s generally done. If you’ve been offered a severance package and you’re not sure about it, contact us before you commit.
Think this applies to you? Don’t try to figure it out alone, that’s what we’re here for. Call Stillman Legal P.C. for a free consultation. We don’t get paid unless you do.
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FAQ
Frequently Asked Questions
What is a typical severance pay?
The most common payment consists of one to two weeks of base salary per year of service. Some executive packages may use one month per year, or a flat negotiated amount (three to twelve months), for example.
What does it mean by severance?
Severance is the money paid to an employee whose job the employer has had to terminate.
Is it worth negotiating a severance package?
Because employers generally build flexibility into their initial severance offers, you should treat your severance agreement not as standard paperwork to be blindly signed, but as a crucial negotiation opportunity to leverage your rights and maximize your financial stability following a termination.
What is a severance agreement for termination?
A severance agreement is a legal document signed by an employer and an employee upon termination that details the rights and responsibilities of each party, including any benefits the employee is entitled to receive, such as severance pay or continued insurance coverage.
Can I get severance if I quit?
Generally, no. If you quit your job voluntarily, you are not legally entitled to severance pay or termination pay. These benefits are designed to support employees following an unexpected termination initiated by the employer.
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