Review and Negotiation of Severance Agreements

Our New York severance agreement lawyers have advised Fortune 100 companies on severance packages, plant closings and layoffs.  Using this valuable experience, our severance agreement attorneys have successfully represented current and former employees during the negotiation of Severance Agreements, Severance Contracts and Separation Packages and obtained greater amounts of compensation (lump sum and or/weekly), a longer employment period and delayed termination date, longer periods of health insurance coverage and other valuable benefits.  Call now to speak with one of our New York Severance Attorneys at (800) 893-9645. Our New York severance agreement lawyers have prepared, reviewed and negotiated hundreds of severance agreements. Our employment law attorneys will answer all your questions regarding the terms of severance, explain the terms of the Severance Agreement, inform you of your legal rights, and negotiate your severance agreement in order to maximize your compensation, benefits and perks.   

The terms of a Severance Agreement should include:

• Amount of the severance payment(s) and taxation considerations
  
• Term and payment methods for severance monies
• Payment for unused vacation, personal and sick time
• Date of termination
• Agreed-upon language for reference purposes
  
• Extended coverage of health insurance benefits
• Scope of Non-Competition, Non-Solicitation and Non-Disclosure obligations
• Uncontested application for unemployment insurance benefits 
• If applicable, uniform application of severance pay calculator computations.
  

It is very important for employees to review their severance packages  with an experienced employment lawyer so that they understand and fully appreciate the benefits and obligations imposed in the Severance Agreement and to ensure that the Agreement  adequately meets the employee's needs. As Severance Agreements may bar employees from future suits against their employers for claims such as employment discrimination, sexual harassment and payments owed such as bonuses, it is crucial to review the Severance Agreement and the terms of termination to determine if any claims exist prior to signing. Call now to speak with one of our Severance Attorneys at (800) 893-9645.  Learn your rights before you release all your claims against your former employer.

For each client, our employment law attorneys will:

1. Review your severance agreement paragraph by paragraph with you and explain the specific related issues;
2. Analyze legal issues surrounding your termination including the viability and strength of any possible employment law claims that you may have;
3. Determine the proper valuation of stock options and other compensation and benefits available to you;
   
4. The availability and proper cost of COBRA health insurance coverage, your eligibility for the federal COBRA subsidy program, and your eligibility for state unemployment insurance benefits; and
5. The impact of any restrictive covenants (non-competition and non-solicitation agreements) that you may be bound by and other issues affecting your future employment.