Do you have a severance agreement or package in New Jersey and are looking for a New Jersey severance lawyer? Our attorneys or severance FAQ assist you with your severance agreement or severance package.
Breakdown of the Severance FAQ
A qualified severance attorney will have reviewed and negotiated hundreds of severance packages on behalf of employees. From those severance packages they should have been able to make numerous modifications regarding the amount of severance that was provided, the length of time that Cobra or healthcare continuation lasted and many other changes to severance agreements. Each situation is different and every severance package is different. Any employee or coworker who tells you that it is a standard severance package is misguided and is providing you with bad information. Every severance package is different and has various ramifications on the employee based on your specific situation.
For example, you may have a potential lawsuit that you would be waving in return for the severance. A qualified severance attorney would evaluate your potential claim and then advise you on whether you should accept the package that is being offered, try and negotiate to increase the amount of severance being offered or walk away from the severance in order to file a lawsuit. You may also be prevented from accepting employment with another employer based on the express language in the severance agreement. There are a multitude of different scenarios that are specific to you that will not fall into the standard severance package. Therefore, we suggest that you contact and retain a New Jersey severance lawyer for the review of your severance agreement or separation package. A severance law firm should provide a flat rate for the review and meeting of your severance package and can negotiate with your employer on your behalf to try and make changes and increase the terms of the severance agreement.
Questions & Answers
Q: Am I entitled to severance in New Jersey?
A: It depends. There is no law in New Jersey that requires that you be provided with separates. It has become common for an employer to provide severance to a terminated employee. However, there is no law requiring it period. You may be entitled to it based on a policy or provision of a handbook by the employer which states that you would be entitled to a certain amount of severance in the event of a job termination or elimination.
Q. Is there a standard amount of severance offered by an employer?
A. No. Every employer has a different policy or practice regarding severance. Some employers do not offer it at all. Other employers may offer one or two weeks per year of service. Some attorneys in New Jersey have seen employers cap the amount of years that will be provided in severance or the amount of benefits that can be provided. Each situation and employer is unique regarding its severance package.
Q. Should I have my New Jersey severance package reviewed?
A. Yes. It is strongly suggested that you have your severance agreement reviewed by an experienced employment attorney. Any contract that is being provided by one party for another to sign should always be reviewed carefully. You will most likely notice in your severance agreement that the employer has suggested that you have the severance agreement reviewed by an attorney. This suggestion is made so that the contract would be enforceable. Your employer had their own attorney prepare this document in order to protect them. It is strongly suggested that you have your attorney review it in order to protect you.
Q. Can negotiation increase the terms of my severance?
A. Yes. You can always contact your employer regarding questions or comments in the severance package and try to see if you can increase or modify the severance. You can do this on your own or hire a New Jersey severance attorney to represent you and negotiate on your behalf with the employer.
Q. Why did my employer offer me 21 days to review the Agreement?
A. If you are over the age of 40, there are losses that require the employer to provide you with 21 days to review the Agreement and the seven days to revoke the agreement after signing. This is based on the older worker benefit Protection Act and age discrimination in employment. Both of these federal laws provide you with the time frame for you to review the severance agreement. You may be able to modify the time frame based on revisions that are made to the agreement or by requesting that the timeframe be extended from your employer. However, you should contact your employer as soon as possible in order to see if the amount of time will be extended.
Our Severance FAQ Doesn’t Have What You Need? Contact Our New Jersey Employment Law Attorneys
We try and have all of the common questions on this severance FAQ, but we understand that your situation may need specifics. At Castronovo & McKinney, we have a proven history of successfully resolving employment law claims in and out of the courtroom. If the severance FAQ failed to answer your question, trust our legal team to always work in your best interests and make sure your questions are answered and your rights are protected. Contact us
today so we can better address your question.