Severance benefits are typically negotiated between employers and employees who are leaving the company. If you sign a severance agreement, you will undoubtedly be asked to give up some of your rights in return. In too many cases, employees simply sign severance agreements without seeking professional guidance. You should not sign a severance agreement until you consult with an experienced attorney. At The Garner Firm, Lower Merion Township severance agreement lawyer Adam H. Garner has extensive experience negotiating, drafting, reviewing, and litigating severance agreements. Our legal team is committed to ensuring that employees get fair value in their agreement. To get legal advice regarding your severance package, please do not hesitate to contact our law firm today.
Severance Pay is Generally Not Guaranteed
As a general rule, severance benefits are not guaranteed as a matter of state or federal law. For example, there are no provisions within the Fair Labor Standards Act (FLSA) that guarantee employees will be offered severance benefits. Though, in some limited cases, these benefits are established by an agreement that is governed by the Employee Retirement Income Security Act (ERISA). As severance benefits are typically not guaranteed by the law, it is critically important that all Lower Merion Township employees recognize that their employer will want something in return for offering severance pay. Before finalizing an agreement, you need be sure that you are getting full value for what you are giving up. You do not have to sign your employer’s initial offer.
Severance benefits work in both directions. In general, employers will ask employees to sign a deal that contains some combination of the following four provisions:
- A full release of all future claims against the company, meaning the employee agrees not to sue the company regarding their termination or employment.
- Agree to confidentiality regarding certain issues.
- Agree not to ‘disparage’ the company or its management in the future.
- Sign a non-compete clause.
Lower Merion Township employees must be sure that they have a full understanding of their obligations under their severance agreement. Our Pennsylvania severance benefits lawyer is standing by, ready to help you negotiate the best possible deal. We will ensure that you can maximum your benefits. .
Contact Our Pennsylvania Severance Agreement Attorney Today
At The Garner Firm, our Lower Merion Township employee benefits attorney has extensive experience handling issues related to severance benefits. We will make sure that you get the best possible deal. To find out more about what we can do for you, please call us today at (215) 645-5955 to set up a free, fully confidential case evaluation.