Tips for Severance Agreements

By Thomas McKinney
Partner

Tips regarding Severance Offered the Day of Your Termination

Employers sometimes offer severance packages to the employee during a termination meeting. Most employer’s allow the employee to take the severance agreement home to review and let the termination settle in before the employee makes a decision regarding severance.  However, some employers request that the employee sign the severance agreement on the spot without the employee having the ability to thoroughly review the severance package and discuss it with their attorney, accountant or spouse.  In situations like that, we recommend the following:  (1) stay calm during the termination meeting; (2) don’t sign anything and ask that you be able to take severance agreement home to think about it; (3) ask your employer how much time you have to get back to them regarding the severance agreement; and (4) contact an employment lawyer to discuss the terms of the agreement and help you negotiate better terms.

Dated: May 22, 2010 – Castronovo & McKinney, LLC

About the Author
Tom McKinney is an experienced NJ Employment Lawyer in all major areas of labor and employment law, including discrimination, harassment, overtime violations, wage and hour claims, sexual harassment, wrongful discharge, Title VII, ADA, ADEA, FMLA, LAD, FLSA, and all other employment law claims. Tom is admitted to practice in the States of New Jersey and New York, United States District Court for the Eastern District of New York, Southern District of New York, District of New Jersey, and United States Court of Appeals for the Third Circuit. Prior to forming the firm, Tom practiced at Gibbons P.C. in Newark, NJ. If you have any questions regarding this article, contact Tom here today.