Upon termination, an employer may offer you a severance agreement. The intent of these agreements is to compensate a laid off employee in exchange for a promise not to sue the employer in the future. Because severance agreements are not mandatory, employers may choose to offer laid off employees a severance agreement with the terms of its choice.
The list doesn’t end here. In addition to making sure the offered terms of a severance agreement are favorable, you may want to consider making them more favorable. It’s possible to negotiate a severance agreement, or even to ask for one if not initially offered. This process, however, may require an employment attorney, as complicated issues of contract and employment law are involved.
Related Resources:
- Severance Pay and Benefits Considerations (FindLaw)
- Wrongful Termination Claims (FindLaw)
- Employee Rights after a Job Termination (FindLaw)
- Job Loss: Your Rights (FindLaw)
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