New York City Severance Agreement Lawyers
It can be hard to know how to respond when your employer presents you with a severance agreement. Do you have to sign it? What would you be giving up if you do not sign? Is it a good deal?
At Eisenberg & Baum, LLP, our goal is to protect your interests. We have decades of experience in business and corporate law to bring to bear on your severance agreement.
We can review your agreement to determine if there are any unfavorable terms. In many cases, we can address those issues and negotiate a better severance package for you.
Get started with a free initial consultation. Based in Manhattan, our severance agreement lawyers represent executives and others receiving severance offers nationwide.
What Is A Severance Agreement?
A severance agreement, also known as a termination agreement or employment separation agreement, is a contract offered upon termination of employment. It outlines the conditions under which an employee will leave the company, often including compensation in exchange for certain concessions. These agreements are legally binding and should contain all elements of a valid contract.
Both you and your employer stand to gain something from a good severance agreement package. A severance agreement lawyer from our firm can protect your interests.
Should You Sign Your Severance Agreement?
It is vital not to rush into signing your severance agreement without a proper legal review. Our severance agreement lawyers cannot advise you on whether to sign until they review the specifics of your agreement. Signing hastily could lead you to forfeit significant benefits or rights. In many cases, however, employers pressure people to sign quickly. It is within your rights to ask for time to have an attorney review the document.
What Are Some Red Flags In A Severance Agreement?
When reviewing a severance agreement, it is important to look out for potential red flags, such as:
- Clauses that attempt to strip you of your right to file future claims against your employer
- Terms that are ambiguous or unclear about compensation and benefits
- Provisions that impose unreasonable restrictions on future employment opportunities
One of your employer’s main goals is to limit future claims, such as employment discrimination or wrongful termination claims. You should consider carefully before signing away your right to bring such claims. Our severance agreement lawyers can look at your agreement and explain the costs and benefits. Then, we can attempt to negotiate a more favorable agreement.
Need An Attorney To Review Your Severance Agreement? Contact Us For A Free Consultation.
If you have been offered a severance package, do not try to make these important decisions alone. Contact Eisenberg & Baum, LLP, for a thorough review and negotiation support from our seasoned severance agreement lawyers. Call us at 212-353-8700 or email us today to set up your free consultation.