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Protect Severance Agreement

Protect Severance Agreement

Aug 6th, 2022

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How to Protect Severance Agreement

4.8 out of 5

57 votes

Each year, many Americans receive severance packages after being terminated from their jobs. These packages typically involve a financial payment in exchange for the employee's signature on a contract. This video tutorial aims to clarify what is included in a standard severance agreement and emphasizes that accepting such offers often means relinquishing legal rights. To make the topic more engaging, the presenter will compare two actual severance agreements: one valued at $10,000 and another at over $400,000. The video also notes that actual agreements from former clients will be shown, with all identifying details redacted. It mentions previous videos that cover how to assess severance offers.

Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

How do you secure a severance package?

11 Tips to Help You Negotiate a Better Severance Package Keep cool and collected. Dont sign your severance right away. Understand the give and take. Ask for professional help if needed. Go back to your offer letter and contract. Scrutinize your own work. Know what they can (and cannot) negotiate.

What should I watch out for in a severance agreement?

Non-competition and non-solicitation clauses; The method of severance payments (especially failure to pay in a lump-sum); What your employer can say about your ability to be re-hired; and. Clauses that limit your ability to file for unemployment.

Is it worth negotiating a severance package?

You can always try to negotiate more severance. Employers rarely withdraw an offer just because an employee asks for more. A reasonable severance package should meet your needs while you look for comparable employment.

Can a company revoke a severance offer?

Yes, your employer can change or even cancel your severance amount if you do not have a contract detailing how your severance package is calculated. If you do not have an agreement, you employer has full discretion to determine how much to offer, to change the offer, or to simply not offer a severance package.

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