Should I have an attorney review my NY Severance Agreement? NY severance agreements may provide many benefits to the exiting employee but often impose significant obligations that should be examined by an attorney who has experience with such agreements. In New York, a severance agreement is a contract between an employer and employee in which the employee waives certain legal rightsin exchange for additional compensation or other benefits provided by the employer.
We protect our clients' interests by identifying and making changes to the employment severance agreement when possible and as appropriate. We do our best to work into the agreements as many modifications as possible to further your interests. We also highlight provisions in your agreement that you should weigh carefully before signing. Finally, we explain your entire agreement paragraph by paragraph in plain and simple language so that you understand what you and your employer are agreeing to.
And, in some cases, we negotiate on your behalf to improve your severance.
By signing a NY severance agreement, you are generally released or barredfrom suing your employer for any claims against them that you may have, so it is essential to first determine whether any legitimate claims exist. We frequently learn, during the initial free consultation, that circumstances surrounding the employee's terminationinvolve other workplace violations. We always evaluate the circumstances surrounding a NY severance agreement through active listening, precise inquiry, and investigative research and review.
Your NY severance agreement may also include critical non-compete agreements. Before signing, you need to be knowledgeable of the effects any such agreement may have on your future ability to obtain employment.
Many times, NY severance agreements suggest that you seek the advice of a lawyer and we wholeheartedly agree. Do not go at it alone. Frequently, part or all of a severance agreement is subject to a signing deadline, so do not put off discussions with an experienced lawyer about your severance agreement.
If you've been offered a NY severance agreement, contact us today.