A severance agreement, also referred to as a separation agreement, is a contract an employee and employer enter into outlining various terms relating to the end of a worker’s employment. A severance agreement typically releases the employer from liability relating to the worker’s employment in exchange for a specified amount of compensation, continuation of benefits, etc. It is important to note that by signing a severance agreement you will likely be waiving any claims you may have against the employer and will not be able to bring any civil lawsuit.
It is therefore important that before signing any severance agreement, you reach out to enlist the help of our experts at Mancini & Associates to ensure that your rights are protected. We can also assist you if a former employer is violating the terms of your severance agreement.
In theory, severance agreements can offer a range of benefits to both employees and employers.
For example, a company lays off a longtime employee, due to no fault of their own.. Perhaps the company has lost several clients or is otherwise struggling financially and can thus no longer afford to keep an otherwise reliable employee on staff. Ideally, a severance agreement will ensure that said employee is provided with sufficient compensation as they look for work elsewhere following their termination. The employer benefits by not having to worry about a potential civil suit.
A nefarious example occurs when a company terminates an employee for an illegal reason and attempts to coerce the employee to sign a severance agreement offering a small amount of compensation in exchange for a complete waiver of claims. In these situations, the company may take advantage of a just terminated employee, who may be desperate for any amount of additional money.
It is wise to consult with a Los Angeles severance agreement attorney if you have the opportunity to negotiate the terms of your agreement before signing away any of your rights in the severance agreement.
When presented with a severance agreement, you should consult with the experts at Mancini & Associates who may be able to help you by: at Mancini & Associates
If you require the services of a lawyer specializing in severance agreement issues, contact Mancini & Associates, serving clients like yourself for more than two decades. Get started today by calling us at 818-783-5757 or contacting us online to schedule your free consultation.