If you’ve been let go, laid off, or resigned in Buena, NJ, and you’re presented with a severance agreement, it’s crucial to understand its terms before signing. Severance agreements often favor the employer and may require employees to give up important legal rights, including the ability to sue. At Castronovo & McKinney, LLC, we specialize in protecting employee rights and ensuring that severance agreements do not unfairly disadvantage you. Contact us for a thorough review of your severance agreement and expert guidance.
What Is a Severance Agreement?
A severance agreement is a contract that outlines the terms of termination between an employer and an employee. Typically, these agreements are designed to protect the employer’s interests, including clauses like:
- Non-disclosure: Prevents the employee from revealing termination details or confidential company information.
- Non-compete: Restricts the employee’s ability to work for a competitor or start a similar business.
- Non-disparagement: Prohibits the employee from making negative comments about the employer.
A key issue in many severance agreements is the requirement for employees to waive their right to sue in exchange for severance pay. Given the serious implications, having a skilled attorney review the agreement is vital to understanding its impact on your future employment and legal rights.
Key Elements of a Severance Agreement
Severance agreements may differ based on individual circumstances, but certain elements are crucial to ensure your interests are protected:
- Severance Pay: You may be entitled to severance pay based on your contract, company policy, or applicable laws. An attorney can help ensure you receive all owed compensation, such as unused paid time off, bonuses, and other benefits.
- Medical Benefits: Federal law allows continued health insurance for up to 18 months after termination, but you must pay premiums. A lawyer can negotiate for extended benefits or a lump-sum payment.
- References: Employers typically provide limited references. Ensure your termination is handled appropriately to protect your professional reputation.
- Dispute Resolution: Many agreements include arbitration clauses. Our attorneys will ensure fair representation and prepare for litigation if needed.
- Confidentiality: Terms of severance agreements are usually confidential. We work to ensure that your severance pay is fair and your future job prospects are protected.
Why Choose Castronovo & McKinney, LLC?
If you’re facing termination in Buena, NJ, don’t rush to sign a severance agreement. Our experienced employment attorneys will carefully review the document, explain your rights, and manage communications with your employer’s legal team. We are committed to securing a fair severance package and protecting your future employment opportunities.
Contact Our Experienced Attorneys
The termination process is challenging, and signing a severance agreement without fully understanding its implications can be detrimental. Castronovo & McKinney, LLC specializes in reviewing severance agreements and protecting employees’ rights in Buena, NJ. Our team will guide you through every step to ensure you are treated fairly.
For expert legal assistance, contact us today.