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Don’t believe the hype when it comes to a severance agreement

On Behalf of | Jun 26, 2015 | Employment Contracts |

It’s a nightmarish situation that no one ever wants to endure under any circumstances: being summoned into a superior’s office or conference room only to be informed that your employer has decided to terminate your services.

As difficult as this can be to comprehend, things can get even more confusing when your now-former employer presents you with a severance agreement. While they likely will not ask you to sign the agreement at that moment, chances are good that they will want you to sign sooner than later.

While you may be tempted to simply sign the severance agreement after briefly skimming it, anxious to get any money offered under in accordance with its terms, it’s important to keep two things in mind:

  • Severance agreements are typically drafted in a way that benefits the employer.
  • Certain rights to file any subsequent legal claims can be forfeited by signing severance agreements.

In light of this reality, it can be incredibly advantageous to have a legal professional carefully review the full text of any severance agreement, and determine whether it can — and should — be modified, negotiated or enhanced.

Indeed, a legal professional can determine whether a recently terminated employee has any potential claims against a former employer and whether signing the severance agreement, as drafted, would have them forfeit these claims.

In scenarios like these, a legal professional can undertake negotiations to help ensure that an employee is fairly compensated for their agreement to release these claims.

At Gallup Law, we understand how difficult losing your job can be and urge employees to consider speaking with us before taking any type of action concerning a severance agreement. Indeed, you owe it to yourself after all of your years of hard work to have an experienced attorney look it over.

Please visit our website to learn more about our experience, skill and dedication in these matters.