Negotiating NY Severance Agreements | NY Severance Packages Contrary to popular belief, you probably do not have a right to NY severance pay or a NY severance package. There is no law which mandates severance agreements, so unless you have an employment contract which explicitly provides for one, you have no legal right to severance pay.
Nevertheless, companies sometimes offer severance pay packages to terminated employees. The company will require you to give up all of your rights in exchange for the severance package. In essence, the company wants to make sure that you leave without suing, and will pay you to do so.
Severance agreements ultimately come down to money. Some companies have firm policies against increasing severance pay offers but others may enhance the severance pay if you can show a strong legal claim. For example, if you have a strong discrimination case the company may increase the offer to avoid being sued. If you have been offered a NY severance package and believe that your termination was illegal (e.g. discriminatory), please contact us to help evaluate your potential claims.