Krevsky Bowser
  • Practice Areas
    • Employment Law For Employees
    • Employment Law For Employers
  • People
    • Anthony T. Bowser
    • Frank P. Clark
    • Solomon Z. Krevsky
  • Testimonials
  • Blog
  • Contact
Select Page

Seeking the best severance package

by Krevsky Bowser LLC | Apr 25, 2019 | Firm News, severance agreements

Accepting a new job offer or losing a job may be difficult times to negotiate the terms of leaving employment. However, the separation package contained in severance agreements can dictate financial and professional futures and should contain certain terms.

A severance package includes the amount of money and other benefits that will be provided to an employee who leaves their job or has their employment ended with an employer. Except for many union workers, these packages are not legally required and are intended to compensate for the loss of employment, stop an employee from filing a lawsuit, or prevent the employee from taking other action against the employer.

Typical severance agreement specifies the amount of severance pay and the benefits being offered, how the severance pay was calculated, methodology of severance pay, an agreement not to sue, and the return of property or clearance from property. An important component in these agreements is the non-compete clause, which prevents an employer from disclosing business information and from competing against that employer for a certain time and within a specific geographic radius.

The general amount of pay and benefits are understandably an employee’s major concern, especially when they are losing their job. However, important terms should be closely reviewed before accepting a severance package.

These additional terms include a justifiable reason for the job termination or layoff. Computation of pay should be closely scrutinized, too, to assure that it properly reflects an employee’s length of service. Terms governing health, dental, and disability benefits need to be closely reviewed to determine whether the employer will stop paying its share of premiums on the date of separation or it will continue to pay those premiums for an extended time.

Non-compete and confidentiality clauses can restrict a career after an employee leaves a job. For this reason, its details should also be examined closely. An employee should determine the employer’s direct competition and whether the length of the restriction and its geographic scope unreasonably restrict an employee from pursuing their career. A severance agreement should also clearly define “confidential information” to avoid any potential litigation.

Employees may have the ability to negotiate their severance packages, which may provide them with the financial support and post-employment services they need. Negotiating these terms can also restrict non-compete clauses, extend benefits, or even extend the use of employer resources. An attorney may be able to strengthen an employee’s position in these negotiations and thereby assure that the package is fair.

Recent Posts

  • Google and workplace discrimination
  • Can you be fired without notice?
  • What to know about workplace harassment
  • 30 years of employee care: Americans with Disabilities Act
  • Racial discrimination can affect any workplace

Archives

  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016

Categories

  • Americans with Disabilities Act (ADA)
  • employee rights
  • employment contracts
  • employment contracts for medical professionals
  • employment law for employers
  • Family and Medical Leave Act (FMLA)
  • Firm News
  • Harassment
  • severance agreements
  • sexual harassment
  • Small Businesses
  • workplace discrimination

RSS Feed

Subscribe To This Blog’s Feed

FindLaw Network

Learn How We Can Help

Office Location:

20 Erford Road, Suite 300A
Lemoyne, PA 17043

Phone:

717-303-3764

888-593-6283

 

Map & Directions
  • Follow
Review Us

© 2021 Krevsky Bowser. All Rights Reserved.

Disclaimer | Site Map | Privacy Policy | Business Development Solutions by FindLaw, part of Thomson Reuters