If you are laid off by your employer due to restructuring or other reasons, you may be offered a severance package by your employer. Additionally, if you are terminated for issues such as failing to meet performance goals, office politics, or other reasons, your employer may offer you a severance package. Severance packages can include a lump sum of money, health insurance benefits after your termination date and other compensation and benefits. Severance packages often include written agreements and releases, which are complicated and binding legal documents. If you have been offered a severance package from your employer, please contact our Long Island City and Long Island severance package attorneys for assistance as soon as posssible.
Typically an employer will require that you sign a separation / severance agreement and waiver in exchange for a severance package / compensation. By signing an agreement, you may be agreeing not to compete with your employer for a specified period of time by being restricted from opening your own business or even working for a competing business that is in competition with your employer / former employer. This is a known as a non-compete clause / agreement, and may be enforceable against you depending on the circumstances of your agreement and matter. The separation / severance agreement may also contain other restrictive covenants / restrictions you are agreeing to. Please contact our Long Island City and Long Island severance lawyers prior to signing any separation / severance agreements offered to you by your employer before it is too late.
Furthermore, employers will likely require that you sign a release in exchange for a severance package. The release typically states that you are releasing your rights to sue the employer for virtually all or all claims you may have against your employer arising out of your employment with the employer. It is very important that you have a severance lawyer review your employment matter with you prior to entering into an agreement with your employer to determine if you may have valuable claims that you would be releasing. In some circumstances the claims that you may be releasing may be worth substantially more money / compensation than your employer is offering you in a severance package. Please contact our Long Island City and Long Island severance package attorneys immediately to evaluate your claims and your severance package offer.
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The information contained on this website is for general purposes only, and may not be accurate due to changes in the law and/or other reasons. The information contained on this website should not be relied upon and does not constitute legal advice, nor establish an attorney-client relationship. Contact an attorney and/or the Law Office of William L. Teitler for legal representation / legal advice. Contacting the Law Office of William L. Teitler does not, by itself, establish an attorney-client relationship.
Our law firm represents clients in employment law, personal injury, and other legal matters in New York State and New York City, including Queens, Bronx, Brooklyn, Manhattan, Staten Island, Nassau, and Suffolk County.
Law Office of William L. Teitler
30-30 Northern Boulevard
Long Island City, NY 11101
Phone: (718) 392-3483
Long Island Office:
425 Broadhollow Road
Melville, NY 11747
(Law Offices of Ian M. Sack)
(Personal Injury Co-Counsel)
Monday - Friday
9 a.m. - 7 p.m.