Employee reductions and terminations are an unfortunate reality in both good times and bad. To minimize their risk of potential litigation, many employers offer terminated employees money or benefits in exchange for a release (or “waiver”) of liability for all claims connected with the employment relationship, including potential employee benefit claims and discrimination claims under civil rights laws. Sometimes this agreement is called a “separation” or “termination” agreement, or “separation agreement general release and covenant not to sue.” Like any contract, a severance agreement must be supported by “consideration.” Consideration is something of value to which a person is not already entitled that is given in exchange for an agreement to do, or refrain from doing, something.
While it is common for senior-level executives to negotiate severance provisions when initially hired, other employees typically are offered severance agreements and asked to sign a waiver at the time of termination. When presented with a severance agreement, many employees wonder whether such an agreement is legal and what rights they have to negotiate such an agreement. Whether you are a senior-level executive negotiating severance provisions as part of a broader employment agreement, or a newly departing employee, Bryant Legal Group PC can represent your interests to the fullest and help protect your rights to receive just and proper “consideration” in exchange for releasing the employer from any potential liability.
Bryant Legal Group PC can also make sure that you understand the rights and claims that you are waiving if you sign a severance agreement in order to make sure that you fully understand the consequences of waiving the specific rights and claims included in the agreement. If you intend on filing a disability claim and are being asked to sign a severance agreement, contact us now!