If you have been terminated from a position, your employer may offer you a severance agreement. Though the agreement might sound like a great way to move on towards a better situation, it might be a way to prohibit you from exercising your rights and holding them liable for wrongful termination or a breach of contract. In some cases, a severance agreement will impact your ability to make a living in the same industry. Wrongful termination can constitute many different situations, including discrimination and breach of employment contracts. If you believe that you have been terminated illegally, you should retain a lawyer with experience reviewing severance agreements. If your employer has offered you a severance agreement, contact The Mark Law Firm, LLC to review the document and possibly negotiate a better agreement that meets your needs.
If you are faced with a severance agreement, you have a lot to consider about how to proceed. You may want to sign the agreement, negotiate the terms of the agreement, or reject the agreement altogether. Most businesses will offer a sum of money to entice a terminated employee to agree to the terms they have set out in the agreement. The first draft of a severance agreement will always function in the best interests of your employer. It is important for an employee to consider if they have any leverage over their employer that can be used to negotiate better terms.
One of the main reasons an employer will offer a severance agreement is to prohibit the terminated employee from taking any kind of legal action. Most notably, a business or an employer may be worried about a wrongful termination claim. In some cases, an employer knows that they have acted illegally when terminating an employee. They may offer the prior worker an attractive sum of money for their compliance. In other cases, a severance agreement may impact the person’s livelihood, barring them from being able to continue working in the same industry, in the same area, or for a competing company. Some of the ways they may impact your future capability includes:
The Mark Law Firm, LLC has years of experience reviewing and negotiating severance agreements to benefit our New Jersey clients. Few employees who are asked to sign severance agreements understand that they may be signing away their rights. It is in your best interests to have an attorney with the knowledge of severance agreements and tenacious negotiating skills to assess your situation and effectively advocate on your behalf. You may have a valid wrongful termination claim or leverage related to competitive employment that could be used to better the terms of the agreement. If you need our legal services, contact The Mark Law Firm, LLC today.