If you have been laid off or terminated from your job, you may receive a severance agreement offer from your employer. This agreement is intended to provide you with some financial cushion for the period of time that you will search for a new position. These agreements can be complex and often come with many conditions.
Continue reading to discover the common provisions used in severance agreements and the reasons to retain the services of an experienced employment attorney for assistance with reviewing or negotiating a severance agreement.
What are the most common provisions used in severance agreements?
Some of the most common provisions included in severance agreements are as follows:
- A release of legal claims: This clause prevents employees from making wrongful termination or other legal claims against their former employers.
- Non-disclosure or confidentiality clause: This clause may provide two confidentiality requirements. First, that you may not share or otherwise use any confidential information you obtained from your former company. Second, in some instances, that you keep the terms of the severance agreement confidential.
- Non-disparagement clause: This clause typically states that you cannot speak ill about your former employer. If you are caught doing so after signing such a clause, you may face legal penalties.
- Non-compete clause: This clause may state that you cannot accept a position with a direct competitor of your former employer for a set period of time.
- Non-solicitation clause: This clause may state that you may not hire or recruit co-workers from your former company for a certain period of time.
Do I need an attorney for assistance signing a severance agreement?
There may be many conditions that come with signing a severance agreement – often regarding what you can and cannot do after you leave the company. With this in mind, it may be helpful to consider retaining the services of an experienced Virginia employment attorney. A knowledgeable attorney can assist you in negotiating your severance agreement. They can also provide guidance regarding the agreement to help you understand the paperwork you are signing as you leave this job and start a new chapter in your life.
CONTACT A CHESTERFIELD COUNTY SEVERANCE AGREEMENT ATTORNEY
At Passero Employment Law, we understand it is difficult to confront problems in the workplace or face litigation. With that in mind, we take a solutions-oriented approach to our representation – focusing on the right process and the right solution for each of our clients. If you need help with an employment law matter in the state of Virginia, you can count on Passero Employment Law to effectively represent your interests. If you would like to discuss your matter, please contact Passero Employment Law today.