Castronovo & McKinney, LLC offers expert legal services to employees in Norwood, NJ, who are facing severance agreements during job termination, layoffs, or resignations. Severance agreements can have serious consequences, often requiring employees to waive important rights, such as the right to sue their employer. Before signing any severance agreement, it’s essential to consult an experienced employment attorney to protect your interests.
Understanding Severance Agreements
A severance agreement outlines the terms of job termination between the employer and employee. These agreements can be heavily biased in favor of the employer and may include:
- Non-Disclosure Clause: Prevents the employee from sharing details about their termination or company secrets.
- Non-Compete Clause: Restricts the employee from working for competitors or starting similar businesses.
- Non-Disparagement Agreement: Prohibits the employee from making negative statements about the employer.
- Waiver of Legal Rights: Employees may be forced to give up their right to sue in exchange for severance pay.
Given these potential downsides, it is vital to have a qualified attorney review the agreement to ensure that you understand its full implications and protect your legal rights.
Key Elements of Severance Agreements
While severance agreements vary, they should typically include:
- Severance Pay: Compensation based on the employment contract or company policy. An attorney ensures that all owed benefits, such as accrued paid time off or unpaid bonuses, are included.
- Medical Benefits: Under federal law, health insurance can continue for up to 18 months after termination. Legal counsel can negotiate for the employer to cover premiums for a specified period.
- References: Employers often limit references to confirming employment status. Attorneys can help negotiate better reference terms.
- Dispute Resolution: Many agreements require arbitration for resolving disputes. An attorney ensures the process is fair and may recommend litigation if needed.
- Confidentiality: Severance agreements are usually confidential, with disclosure permitted only to family, attorneys, or in legal proceedings.
Having an attorney review your severance agreement ensures that your rights are safeguarded and that you fully understand the long-term impact on your career.
Why Choose Castronovo & McKinney, LLC
If you are facing termination in Norwood, NJ, it’s critical to seek legal advice before signing a severance agreement. Castronovo & McKinney, LLC will help clarify your rights, thoroughly review your agreement, and handle all communications with your employer. We work to secure a severance package that fully protects your legal rights and future employment opportunities.
Contact Our Experienced New Jersey Severance Agreement Attorneys
Termination can be overwhelming, and signing a severance agreement without legal guidance may lead to costly mistakes. At Castronovo & McKinney, LLC, we specialize in navigating the complexities of severance agreements. Our team of skilled attorneys is committed to protecting your rights during this challenging time.