Severance Agreement Lawyers in Rochester,NY
What is a Severance Agreement?
Severance agreements are essentially a waiver of all legal claims in exchange for compensation when terminating an employment relationship. They can include non-compete agreements or other restrictive covenants. As a legal and binding agreement, it is wise to be fully aware of the short- and long-term ramifications of such agreements.
Need Help With Your Severance Agreement?
The Glennon Law Firm, P.C. routinely reviews, advises, and negotiates severance agreements for employees, executives, and professionals and will also advise you on any severance issues you may have.
Reach out today by calling (585) 294-0303 to work with our Rochester severance agreement attorneys!
What is Included in a Severance Agreement?
A severance agreement will usually include the following:
- Payment based on the length of service you had with the company
- Payment for unused sick days or vacation days
- Payment amount in lieu of a required notice period
- Extension of medical benefits
- Dental benefits or life insurance coverage
- Handling of your retirement benefits,
- Stock options
- Vested or unvested units
- Sometimes even assistance in finding a new position
If you have any other employment claims, such as discrimination, unpaid wages, or other claims, the employer may offer additional sums to settle those claims without litigation.
Stay In The Know
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