There are so many factors to consider both financially and professionally, things can certainly become overwhelming. However, one of the most impactful factors to consider is your severance agreement.
The Severance Agreement, sometimes referred to as a Separation and Release Agreement, may offer an employee compensation and perhaps health benefits in exchange for release of claims, confidentiality, or non-disparagement. There may also be a non-compete provision in the agreement which could take away from your ability to find work for a period of time. As you can imagine from all the jargon – severance agreements are complex, and many people benefit from the help of an Attorney.
Depending on the circumstance, you may have appeal rights if you are denied severance. Although some companies provide severance plans as a gesture of good will to a departing employee, others provide severance to protect a company’s reputation or eliminate the possibility of being sued.
Oftentimes a recipient of severance is giving up many of their rights, so it’s very important to seek legal counsel to ensure you’re protected and enabled.
The Employment Law Attorneys at Miller Law Group, Stacy Miller and Lacy Mau-McDowell, can review your severance agreement, consult with you about your plan, and negotiate on your behalf.