If you’ve been let go, laid off, or resigned in Edgewater, NJ, you may be presented with a severance agreement. While these agreements may seem straightforward, they often require employees to give up important legal rights, such as the ability to sue their employer. It’s crucial to consult with experienced employment attorneys before signing any severance agreement. At Castronovo & McKinney, LLC, we are committed to protecting employee rights from hire to termination. Severance agreements often favor employers, and our team is dedicated to ensuring that your rights are fully protected. Contact us to review your severance agreement and get expert guidance.
What Is a Severance Agreement?
A severance agreement outlines the terms between an employer and employee during termination. These agreements typically protect the employer’s interests and can include:
- Non-disclosure clauses: Prevent disclosure of termination details or confidential information.
- Non-compete clauses: Limit the employee’s ability to work for competitors or start a similar business.
- Non-disparagement clauses: Prohibit negative comments about the employer.
Most importantly, severance agreements often require employees to waive the right to sue their employer in exchange for severance pay. Given the serious implications, it is vital to have a qualified attorney review these agreements to ensure you understand your rights and the impact on your future employment.
Key Elements of a Severance Agreement
Severance agreements vary by individual case, but certain components are critical to protecting your interests:
- Severance Pay: Employers may be obligated to offer severance pay depending on the contract, company policy, or state and federal laws. An attorney will ensure you receive the severance benefits you’re entitled to, including unused paid time off, bonuses, and other owed compensation, without sacrificing your legal rights.
- Medical Benefits: Federal law allows continued health insurance for up to 18 months after termination, though the employee must pay premiums. Legal representation can negotiate for extended coverage or lump-sum payments.
- References: Employers typically provide limited references confirming employment and good standing.
- Dispute Resolution: Severance agreements often include arbitration clauses. A skilled lawyer ensures fair representation in arbitration, and if necessary, prepares for litigation.
- Confidentiality: Terms of severance agreements are usually confidential. Even though employers often have the upper hand in termination situations, our team negotiates to ensure fair treatment, securing appropriate severance pay and protecting your future job prospects.
Why Choose Castronovo & McKinney, LLC?
If you’re facing termination in Edgewater, NJ, don’t rush to sign a severance agreement. Consult with experienced employment attorneys who will protect your interests. We thoroughly review severance agreements, explain your rights, and manage all communications with your employer’s legal team. Let us help you secure a fair severance package and protect your future employment opportunities.
Contact Our Experienced Attorneys
Termination can be a difficult and emotional process, but signing a severance agreement without understanding its full impact is not advisable. Castronovo & McKinney, LLC specializes in severance agreements, serving individuals in Edgewater, NJ. Our attorneys are dedicated to ensuring your rights are protected at every stage of employment.
For legal assistance with your severance agreement, contact us today.