You are entitled to retain an attorney to represent you in connection with a severance package. Hiring a lawyer to review your written agreement is a start but, to fully protect your rights, you should have an attorney advocate on your behalf during severance negotiations. The most important points for your exit strategy include:
Consult with one of our attorneys today to learn why each of those may be important or to learn more on what should be offered given your specific situation.
There are certain pitfalls in severance agreements and negotiations, so it is important to bear in mind that:
With these consequences in mind, you can see where you may be at a disadvantage if you do not have an experienced attorney to represent your interests. You should discuss your situation with a lawyer as soon as you foresee severance negotiations and a potential agreement.
Webpage from the Department of Labor which describes severance pay.
This Department of Labor resource details the fact that severance pay is not required unless there is an agreement between the employer and employee.
This publication, originally published by the Department of Labor in January 1966 and provided here by the St. Louis branch of the Federal Reserve, provides historical information and case studies on severance pay.
The right exit strategy can ensure a bright future for your employment potential, but the key is making sure your severance agreement and related negotiations properly protect your interests. No matter where you are in the stages of departure, our experienced attorneys at the Boston-based law firm of Rodman Employment Law can help. Please contact us or call 617-820-5250 to set up a phone consultation.