Have an Attorney Review Your Severance Package
Some employees who separate from employers might also be asked to sign severance agreements, along with non-compete agreements, prior to them leaving. Generally, severance agreements entitle employees to receive severance compensation and certain benefits, depending on the terms. Severance pay is usually based on the amount of time an individual has been employed with the employer, as well as the individual’s salary or wages. What many employees do not realize is that employers are under no obligation to offer a severance package, unless the employer has obligated itself via a contract.
Severance agreements often contain a number of compromises that will essentially call for the soon-to-be former employee to give up any claims that may exist in exchange for the benefits noted within the agreement. However, it is never a good idea to sign such an agreement without having the benefit of legal advice prior to signing.
Non-compete and severance agreements need to be legally sound and fair, and a skilled attorney can take the time to review the terms of those agreements to ensure that they are not unduly burdensome on the employee. If your employer expects you to sign a non-compete or severance agreement, contact the attorneys at Robert A. Klingler Co., L.P.A. first to discuss your rights under the law.