Being offered a severance agreement during a job transition can feel like a lifeline, providing financial security and a path forward. However, these agreements often contain legal language and clauses that could limit your future rights.

Employment lawyers, like the experienced team at
Castronovo & McKinney, Employment Law Attorneys,
specialize in reviewing and negotiating severance agreements to ensure fairness and protect your interests.

What is a Severance Agreement?

A severance agreement is a contract between an employer and an employee that outlines the terms of separation. These agreements may include:

  • Financial compensation or severance pay
  • Health insurance continuation under COBRA
  • Noncompete or nonsolicitation clauses
  • A release of claims against the employer
  • Confidentiality and nondisparagement clauses

While severance agreements can provide valuable benefits, they often favor the employer, making legal review essential.

Common Issues in Severance Agreements

Severance agreements can include provisions that may not be in the employee’s best interest. Common issues include:

  • Overly Broad Noncompete Clauses: Restricting your ability to work in your field
  • Waivers of Legal Claims: Preventing you from pursuing valid claims against your employer
  • Inadequate Compensation: Offering severance pay that doesn’t reflect your tenure or contributions
  • Lack of Clarity: Including vague language that could be misinterpreted

Identifying and addressing these issues ensures you receive a fair agreement.

How Employment Lawyers Assist

Employment lawyers provide invaluable assistance in reviewing and negotiating severance agreements. Their services include:

  • Analyzing the agreement’s terms to identify unfair provisions
  • Negotiating for better severance pay, benefits, or terms
  • Explaining the implications of clauses such as noncompete agreements
  • Advising on whether to accept, reject, or seek modifications to the agreement

Legal guidance ensures you understand the agreement fully and can make informed decisions.

Steps to Take When Offered a Severance Agreement

If your employer offers a severance agreement, follow these steps:

  • Request time to review the agreement thoroughly
  • Consult an employment lawyer to evaluate the terms
  • Prepare questions or concerns for negotiation
  • Retain a copy of the final, signed agreement for your records

Acting carefully ensures that your rights are protected and that the agreement meets your needs.

Why Choose Castronovo & McKinney?

Castronovo & McKinney, LLC, has extensive experience in reviewing and negotiating severance agreements for employees across New Jersey. Their dedicated team ensures employees receive fair treatment and adequate compensation during job transitions.

Don’t sign a severance agreement without understanding its implications. Contact Castronovo & McKinney today for expert legal advice and protect your financial future.