New York City Severance Review & Negotiations Lawyer
Helping Employees Move On In the Best Position for the Future
Severance agreements can be complex and often include confusing legal language. To fully understand the terms and conditions in your severance package, it is essential to consult with an employment lawyer. Once you have signed an agreement, you usually cannot revoke your acceptance.
It is also vital to ensure you are getting what you deserve before agreeing to a severance package. Let us negotiate your severance to ensure you are fairly compensated for the potentially difficult transition period between jobs. We are experienced severance negotiators, and we know how to leverage your past employment to help you move forward.
How Do Severance Packages Work?
Severance agreements outline the rights and responsibilities of both the employer and the employee regarding separation from employment. The agreement outlines the terms of a severance pay and benefits package, as well as the conditions that could cause the package to be given or held back.
A severance agreement is a binding contract. It contains promises from both parties and requires consideration, or an exchange of things of value. Our experienced New York employment lawyers can help ensure that any severance agreement adequately compensates you in exchange for the rights you may be relinquishing.
The severance agreement should offer some compensation or benefit beyond what you are already entitled to, such as your final paycheck and compensation for accrued but unused paid leave. In exchange, you may be giving up some rights, such as agreeing not to sue your employer for any potential discrimination or harassment claim or wage and hour violation. You could be in a very strong bargaining position if your employer thinks you have a case against it and wants you to go away quietly. Having an experienced employment lawyer negotiate on your behalf shows your employer that you are serious about protecting yourself and understand the value of your position.
What Are My Rights to Review, Accept or Reject a Severance Package?
If you are over 40 years old, you are protected by an amendment to the Age Discrimination in Employment Act (ADEA) known as the Older Workers Benefit Protection Act (OWBPA). This law prohibits discrimination in benefits and protects employees who waive their right to sue. If your employer is asking you to sign a waiver, release or covenant not to sue in exchange for severance pay, your package should be over and above what the company typically provides. Under the law, you have 21 days to decide whether to accept the deal if the waiver applies to you only. If the waiver is being sought from a group of employees, then you each have 45 days to decide. This gives you plenty of time to think it over and contact a qualified employment law attorney to review the agreement and discuss your situation with you. You also seven days after signing to revoke the agreement, according to the OWBPA.
Help Is Available With Severance Agreements in New York City
For help negotiating, reviewing, enforcing or challenging a severance agreement in New York City, call Mansell Law at 646-921-8900 for advice and counsel from a knowledgeable and experienced New York employment law attorney.