Separation agreements in the area of employment law are also known as severance agreements. A general release and waiver is typically included in the separation agreement / severance agreement. By signing and agreeing to the general release / waiver, the employee releases their right to sue the employer under various laws and circumstances.
In exchange for an employee's release of his or her claims, the employer must offer consideration. For example, the employer may offer additional pay of one (1) week of salary or more. Typically, the amount of severance pay is tied to the years of service the employee has worked for the employer. For instance, an employer may offer one (1) week of pay for each year of service by the employee. However, an employer may offer substantially less or more than this amount at the employer's discretion.
In my experience, I do not advise clients to handle their own separation agreement and/or severance negotiation and/or execution. There are deadlines in the agreements, which a client may miss, misconstrue, or miscalculate. Separation agreements and severance agreements are legally binding documents, that should be clearly understood and explained to you by an employment attorney before you become bound by its terms, which may be very restrictive.
Additionally, an employment attorney can evaluate whether you have any legitimate claims to utilize as leverage in negotiating additional severance pay / compensation on your behalf. Moreover, you may be legally entitled to a bonus, paid time off, or other benefits, which your former employer may dispute. If you have been given a separation agreement / severance agreement by your employer, please contact an employment lawyer immediately for assistance.
My New York City Law Firm is here to assist you with your separation / severance agreements. We represent clients in Manhattan, Queens, Brooklyn, Bronx, Staten Island, and Long Island (Nassau and Suffolk County). We have extensive experience in negotiating severance agreements, and have had a high percentage of success in obtaining additional compensation above and beyond that originally offered by the employer.
We prefer to get involved as early on in the process as possible, but even if you waited before consulting an attorney, we may be able to obtain an extension to allow the proper time for us to negotiate on your behalf. Please contact a new york city employment lawyer / severance lawyer as soon as possible, and do not try to take on your employer on your own (be your own lawyer).
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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.
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