Adjust table in the Severance Agreement

Aug 6th, 2022
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How to adjust table in the Severance Agreement

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hi my name is Rebecca Stern and I am an associate attorney at Ramos law in the Employment Division today Im here to talk about why an employee would seek out counsel to review a severance agreement so romasaa we review severance agreements for people almost weekly so when somebody comes into the servants agreement we look for a lot of things in the document we want to see first and foremost if the amount that youre being offered is fair and we see a lot of severance agreement so we have an idea of what different industries are offering and if the agreement is fair based on the amount of time youve been with the employer and based under the circumstances in which theyre letting you go were also gonna look for things that can be hidden in the document like liquidated damages provisions those mean if you break the contract you might owe some extreme amount like twenty thousand dollars we want to make sure that thats not in there so that youre not on the hook for a lot of money if y

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A non-union employer, faced with a plant closing, may be even more abrupt. Such an employer, under no obligation to bargain with its workers about employment terms, may simply choose to take a unilateral action to alter or eliminate a severance pay plan or practice.
If so, California law requires that before signing a severance agreement, your employer advise you that you have right to consult an attorney and that you have at least 21 days to consider the agreement before signing it. You also have 7 days after signing the agreement to revoke it.
They could legally reneg if you violated the terms of your severance agreement. If you signed an agreement saying you would not discuss the terms of your agreement with other employees and you did, that would be grounds for not paying severance. Otherwise, it is a legally binding agreement they are obligated to uphold.
Typical severance packages offer one to two weeks of paid salary for every year worked. You usually have 21 days to accept a severance agreement, and once its signed, you have seven days to change your mind.
Fraud, misrepresentation, duress, or unconscionability are common defenses you can use if you want to void a severance agreement that you already signed.
While it is unusual for an employer to withdraw a severance offer, it is important to understand that the offer may be rescinded, even if it is covered by the OWBPA.
Determine whats reasonable Research typical severance packages for your industry to create a fair and realistic counter-offer. Employers might not want to engage in a lengthy negotiation, so if you present a reasonable alternative to the package on the table, they could be more likely to accept your proposal.

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