Severance Review & Negotiations Lawyer
New York City Experienced Employment Law Attorneys
New York City Severance Review & Negotiations Lawyer
Sometimes, employers agree to provide laid-off or discharged employees with severance packages, which provide much-need financial and insurance support for a specific amount of time while an employee is looking for a new position. The language in those agreements is typically extensive and encompasses various provisions of the law. Often employee favorable terms are not included in the proposed agreements. Often employers do not offer the most favorable compensation in the proposed agreement. Often employers put a deadline on the severance offer, requiring you to give up all your rights by a certain date or “lose” the offer. It is imperative that you find an experienced attorney in this situation to review, advise and negotiate your severance terms.
Every situation is different. Before you give up all your rights, you should speak with a trusted and experienced New York City severance review & negotiations lawyer when you’re concerned about your severance terms and pay.
The legal team at The Giordano Law Offices Personal Injury & Employment Lawyers will help you negotiate your severance agreement with your New York City employer and ensure that all employment law requirements are fully upheld. We will not advise you to sign a proposed severance agreement unless you are fully protected and fully compensated, all things considered.
Our New York City severance attorneys will be more than happy to go over the details of your best course for legal action when you schedule your free consultation.
A severance agreement is essentially a contract. If you sign that agreement, you will be bound to those terms. The agreement typically stipulates the responsibilities and rights of both employees and employers given an employment separation scenario. This agreement will detail the specific terms of an individual’s severance compensation and any additional benefits such as equity. Severance packages also include things like health insurance coverage and unused paid vacation time.
An unlimited number of issues can arise in any severance negotiation. Before you agree to sign, you need to know that all those issues, including ones you have not even considered, are properly handled and memorialized in the binding agreement. An experienced severance agreement lawyer can support and advise you throughout complicated employment law scenarios. As home to many big businesses, banks, agencies, and companies, New York City has a tremendous amount of employee separations occurring each and every day.
Severance agreements should always provide laid-off workers with the compensation and benefits that they are entitled to given that they will have to relinquish significant rights. An experienced employment lawyer who understands how to make the most out of your bargaining position will assure your protection and demand maximum compensations.
Having a New York City Severance Lawyer on your side will show your employer that you’re taking such matters seriously and that you’re willing to take further legal action if your severance negotiation is not adequate.
CAN A LAWYER NEGOTIATE A SEVERANCE PACKAGE?
When your employer is attempting to get you to waive your rights, you are going to need to work directly with a severance agreement lawyer to review and negotiate the agreement, negotiate the terms, help you better understand what your rights are, and conclude the process with your best interests secured.
When you hire our law firm, we’ll provide you with a thorough severance package review that includes:
- A comprehensive interview determining the sensitive information oriented around your contractual agreement with your former employer.
- A detailed review going over all of the specific documents that detail information about your termination and the employment relationship.
- A complete explanation of your specific severance agreement, including missing or insufficient terms.
- A thorough explanation of your rights, options, and the best course of action, whether by negotiation, lawsuit, or arbitration.
- Our thoughtful legal advice based upon years of experience, integrity, and concern will guide you through the process of whether you should sign a severance agreement, or seek additional compensation under your individual circumstances.
Many severance packages will require you to waive your right to sue a company, so you should fully understand if this sacrifice is worthwhile or not. Our legal team has decades of experience with all employment law matters, and we are confident that our severance negotiation skills will put you in the best position for a favorable outcome.
WHAT IS THE BEST WAY TO NEGOTIATE A SEVERANCE PACKAGE?
Utilizing a New York City Severance Attorney is the best way to protect yourself. Though many people believe they can negotiate their own severance terms, it is not so simple.
The following are some tips to keep in mind when it comes to the best ways to negotiate your severance agreement:
Understand that your employer is providing an offer, not necessarily dictating your contractual terms. You should know that you have a choice when it comes to this portion of employment law, and that there’s nothing to lose when you negotiate severance pay and overall packages. Take your time and thoroughly review your agreement with the support of a New York employment law specialist.
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Our attorneys will help you understand the downside of your unique severance agreement. It’s likely that your former employer will make you feel as though your severance package is the best offer available to you, but this entire scenario wouldn’t be an “offer” if that were always the case. Make sure you know what you’re giving up when you agree to your package, and work with an attorney that will identify any potential legal issues.
- Make a counter-offer. Your severance negotiation will require you to develop thorough reasoning as to why you should receive additional compensation. It could be that you should point out the difficulties in finding a new position within a certain period of time, or how good of an employee you were during your time at a company. Showing your track record will go a long way, but you should always keep in mind that you have the leverage during these agreement negotiations. This is why you should negotiate strategically to get the most out of your employer.
- Ask for additional benefits. This entire agreement is oriented around supporting you while you look for a new job, which means that you’ll need additional benefits beyond money to help you during these tough times. Health insurance coverage is a big benefit to keep in mind because you can end up saving a lot of money when you avoid coverage through COBRA.
- Be on the lookout for non-compete clauses. A non-compete clause will limit your abilities to work with a company’s competitors, but these clauses will end up making it much more difficult for you to find a new position. Our attorneys will support you when you’re dealing with a non-compete agreement and negotiate a better outcome for your severance agreement.
- You can always say no. Although you would be walking away from compensation and benefits when you reject a severance agreement, you’ll retain your ability to sue a company. Just be sure you know what you’re walking away from by signing or not signing.
WHAT ARE MY RIGHTS TO REVIEW, ACCEPT OR REJECT A SEVERANCE PACKAGE?
Individuals over 40 are protected by the Age Discrimination in Employment Act (ADEA), which is an anti-discrimination law that will protect you when you’ve waived your rights to sue a company. Your severance package should be above and beyond expectations when a business entity is asking you to not sue them when agreeing to their terms.
There will be certain time limitations on how long you’ll be able to take to accept or reject a deal, but in New York, you’ll have plenty of time to reach out to an employment law expert and have them thoroughly review your agreement and best course for legal action.
You’ll also be able to revoke your signed agreement within seven days, and it’s always important to keep in mind that your severance package is an offer from your former company. Your rights to review, accept or reject an offer are 100% up to you, and our New York City severance attorneys will let you know what your best strategy is.
WHAT SHOULD AN EMPLOYEE LOOK FOR IN A SEVERANCE AGREEMENT?
Although you’re inevitably going to have an advantage over your employer during these negotiations, our lawyers will ensure that all of your best interests are upheld and protected. Severance payment will almost always be 100% unique, but as an employee, you should look for the following:
SEVERANCE PAY
New York State and New York City do not require employers to pay severance to laid-off workers, but employers will typically provide a severance payment given the following factors:
- Severance pay is a part of an employment agreement
- Goodwill (helping an employee find a new job)
- “Buying” a general release
The more liability a company is concerned with, the larger your severance pay should be. Our legal team will make sure that you obtain the maximum compensation that you rightfully deserve, and that all of your employment benefits are upheld when you release your rights to sue.
MEDICAL BENEFITS
Under COBRA, all laid-off employees are required to have continued health insurance coverage from their former employer for up to 18 months after the termination date. Many employees will be stuck paying these premiums, but it’s also possible to have your employer make COBRA payments or provide a subsidy for a certain amount of time as well.
REFERENCES
One major issue that must be addressed within a severance package agreement is how exactly your former company will work with you for reference checks and recommendations while you’re looking for a new job. You can ensure that your agreement is structured to ensure that your former employer acknowledges your hard work and positive employment relationship during your tenure and that they’ll provide positive recommendations for prospective companies/employers.
CONFIDENTIALITY
Most severance agreements will obtain terms oriented around confidential or sensitive information, but you should always make sure that there are particular exceptions to these agreements. You’ll want your attorneys and family members to be legally capable of obtaining disclosure because your best bet in these negotiations is to work with a legal specialist that has provided a similar outcome that you want within their prior results.
DISPUTE RESOLUTION
It’s possible that you signed an employment agreement when you were first hired for your previous position, and this agreement may have stipulated that your claims/disputes would be resolved via arbitration. Arbitration clauses are typically upheld within New York state court, but our team of New York City severance lawyers will be sure to protect your rights and ensure that arbitration is conducted correctly.
HELP IS AVAILABLE WITH SEVERANCE AGREEMENTS IN NEW YORK CITY
Losing your job is always a frustrating experience that puts employees in a position in which they feel as though they need to sign a severance agreement and simply move on, but in these moments it’s incredibly important to reach out to an experienced New York City severance review & negotiations lawyer to ensure that you’re provided with the very best agreement possible. Reach out to us online or call/text us at 646-217-0749 to get in touch with the employment law specialists at The Giordano Law Offices Personal Injury & Employment Lawyers, and schedule your free consultation today.
The Giordano Law Firm was founded by Attorney Jack Giordano. Mr. Jack Giordano is the managing partner and principal at the Giordano Law Firm.