Severance Agreements: Protect Your Rights
Employers often draft severance agreements to protect their interests, not yours. These agreements can waive critical legal rights, including your ability to sue. Before signing, consult an experienced employment attorney to ensure your rights are protected. Castronovo & McKinney, LLC represents employees in Buena Vista Township, NJ, and throughout New Jersey, ensuring fair severance terms.
What Is a Severance Agreement?
A severance agreement outlines the terms of your departure, detailing both your rights and obligations. Employers structure these agreements to their advantage, often including:
- Non-disclosure Clauses: Prohibit sharing information about your termination or company practices.
- Non-compete Clauses: Restrict future employment opportunities within your industry.
- Non-disparagement Agreements: Prevent you from speaking negatively about your employer.
- Waivers of Legal Claims: Require you to give up your right to sue in exchange for severance pay.
These clauses can limit your future opportunities. An employment attorney can review the agreement and negotiate better terms to safeguard your interests.
Key Elements of a Severance Agreement
Each severance agreement should be reviewed carefully, with particular attention to:
- Severance Pay: Employers may offer severance pay based on contracts, policies, or state laws. A lawyer ensures you receive fair compensation, including unpaid wages, bonuses, and other benefits.
- Medical Benefits: Federal law may allow you to continue health insurance after termination. Negotiating employer-covered premiums or lump-sum healthcare payments can be critical.
- References: Agreements may determine whether your employer provides positive references or verification of employment.
- Dispute Resolution: Many agreements require arbitration for disputes. Legal guidance ensures fair arbitration terms and prepares for litigation if needed.
- Confidentiality: Most severance agreements include confidentiality provisions, with limited exceptions for legal counsel and immediate family.
Protect Your Future with Castronovo & McKinney, LLC
Signing a severance agreement without legal review can put your rights at risk. Castronovo & McKinney, LLC evaluates agreements, negotiates better terms, and ensures you don’t give up important legal protections.
Contact an Employment Lawyer in Buena Vista Township, NJ
Severance agreements have lasting consequences. Get legal advice before signing. Castronovo & McKinney, LLC represents employees in Buena Vista Township, NJ, ensuring fair treatment and the best possible outcome. Contact us today for a consultation.