Do Not Sign That Agreement!
Layoffs and terminations can be stressful. You suddenly find yourself without a steady source of income and you may panic.
If your company offers you a severance package or separation agreement, you may see it as an answer to your worries.
Don’t Sign A Severance Agreement!
A severance package may not be the salvation you think it is. Before you sign a separation agreement have it reviewed by a lawyer. The attorneys at Levine & Blit have extensive experience with severance agreements and can help you decipher it before you sign it.
Contact us today for a free phone evaluation.
Severance Packages Are Written for Your Employer – Protect Yourself
You may not realize it, but companies are not required to offer severance packages (unless one is listed in your initial contract). In most cases, the organizations aren’t offering the agreement for your benefit. It is for theirs.
Many organizations offer separation agreements in the hopes of avoiding lawsuits or other issues with disgruntled employees. They also pay their attorneys to carefully draft these agreements to include legal agreements that are often unnoticed to the untrained eye.
Don’t unknowingly sign your rights away. Have your severance agreement reviewed by an attorney before you sign. One of our lawyers can:
- Review your agreement
- Explain the hidden legal ramifications
- Negotiate the agreement so it better benefits you
Understand What You Are Signing
There is no such thing as a “standard agreement.” Each separation agreement is crafted to benefit a company’s specific needs. Companies offer you a settlement in hopes you will blindly sign the agreement and not realize what you are signing.
Severance agreements may include:
- Non-compete clauses that prohibit you from taking jobs with direct competitors
- Verbiage that states you release all legal claims against your employer
- Payment of monies already owed to you (unused vacation, etc.) that do not require a separate agreement
Don’t take a chance with your separation agreement. Speak with one of our attorneys before you sign.