Severance Agreements

Severance packages are sometimes offered to employees upon termination of employment. Severance agreements typically offer an employee some form of post employment compensation and/or benefits in exchange for the employee’s signing a general release of rights and potential claims against the employer. Sometimes, a severance agreement may be offered in exchange for the employee agreeing to restrict competitive activity to the employer in a geographic area for a specified period of time. The terms of severance agreements are often negotiated and could potentially negatively impact an employee’s ability to pursue future employment and or seek unemployment benefits. Accordingly, it is imperative that both parties to a severance agreement seek the counsel of an employment lawyer before signing any agreement. Cotler Law LLC is prepared to draft, review and negotiate severance agreements.