Protect Your Interests with an Experienced Severance Package Attorney
When an employer lets an employee go, a severance package may be offered as compensation. These contractual agreements provide financial assistance and other benefits to the employee following job termination. While a severance agreement can be a vital lifeline during the difficulties posed by unemployment, it may also mean that the employee is waiving important legal rights. If you have been offered a severance package, an experienced attorney should review it to ensure your rights are protected. Severance package attorney Chris Olsen in San Diego, CA, has the knowledge and experience to determine your best course of action before you sign a severance package. To learn more about your next legal steps, contact our practice and schedule your consultation.
What a Severance Agreement Can Cover
A severance agreement may provide terms and conditions for more than pay following the end of your employment. Health benefits, sick and vacation leave, employment grievance procedures, and required employee behavior can all be detailed in the agreement. One of the most important provisions in a severance package involves releasing the employer from liability in future lawsuits. Essentially, this means an employee cannot sue their employer for damages at a later date.
Although a severance package is a binding agreement, consent can be revoked. Under the Older Workers Protection Act, for example, employees over 40 years of age may rescind their authorization within seven days from the date of signing.
What Are My Alternatives?
When a severance package is offered, employees commonly sign the agreement without a second thought. Often their assumption is that they are lucky to receive a severance package in the first place. However, usually the benefits offered are not the best the employee could have received. Moreover, the agreement may prevent the employee from pursuing more beneficial legal action. Employees may want to consider alternative plans of action, which include:
- Contesting – In some cases, someone receiving a severance package may have been illegally fired. Discrimination and employment contract breach are examples of illegal termination. In these situations, an employee should consider contesting a severance agreement and pursue other legal options.
- Reviewing – An employee reviewing their severance package may see nothing wrong with it, and want to sign right away. An attorney who is skilled in such matters, however, can often find ways to improve the contract to deliver more advantageous outcomes.
- Negotiating – Employees often mistakenly feel they have no power in negotiating the terms of their severance agreement. There are actually a number of ways that a severance package can be modified to the benefit of the employee. For example, pay may be increased, or the duration of the severance agreement and its benefits may be extended.
Make the Most of Your Severance Agreement
When you are released from employment, your finances and future job opportunities become a major concern. Protect your immediate and long-term interests by seeking legal advice on your severance agreement. Working with attorney Chris Olsen, you can decide whether to contest or renegotiate. Contact his practice today and schedule your consultation to discuss your options.