When businesses restructure they often enter into sensitive severance negotiations with management and executive employees. It is critical to a successful restructure that severance negotiations are carefully considered and that severance agreements are precisely drafted to avoid potential disputes that may adversely impact the employer or the employee. Issues relating to the breadth and scope of the non-competition or non-solicitation provisions of the severance agreement must be addressed to the best advantage of the client. An experienced and knowledgeable attorney can help resolve any severance agreement issues and make the process go smoothly.
Representing Business Employers and High-Level Employees in Severance Agreement Matters
At Seder & Chandler, LLP, our employment law practice focuses on the special business law needs of high-profile employees, including executives, CEOs, managers and other professionals. In addition, we provide comprehensive employment law counsel for companies or other business entities facing restructure and severance agreement matters. Consult with one of our seasoned lawyers today to discuss your specific severance agreement or other compensation contract issues.
Contact our law firm today to schedule a consultation or to find out more about our executive level employment law services.
Common Questions About Severance Agreements
The negotiation of a compensation package or severance agreement can be a complicated matter. The skilled counsel of an employment law attorney can make this process an easier one. Furthermore, your best interests as a business or as an executive employee can be protected and advocated for by an experienced versatile counsel who understands corporate and employment law.
The following are common questions or issues about severance agreements that clients come to our firm asking:
- What is included in a severance agreement? Compensation such as pay and other monetary compensation package terms are often part of a severance agreement. However, there are other points that are just as important. This may include a release from any future litigation or employment lawsuits, an agreement for non-competition or non-solicitation and other protections for the employer or employee.
- Can other contracts impact the severance agreement? Often an employee has signed an employment agreement or non-competition/non-solicitation agreement at the commencement of his or her employment. The employment agreement may have included terms that limit the employee's movement to other jobs in the event of termination. Each agreement will be distinct and the agreements will need to be examined to determine how much it could impact or dictate the severance agreement. In addition, if there has a been a material change in the terms of the employee's employment, certain provisions of the agreement may no longer be binding on the employee and, thus the terms of the severance agreement may be impacted by the change of status of the employee.
- How much time does an employee have to make his or her decision? In general, there is a 21-day period in which an employee can review the offer or agreement. If the time has passed, the employer can revoke the offer. Furthermore, even if an employee signs the agreement, he or she can change his or her mind within seven days. This is why it is so important that you have an attorney to protect your rights.
- What happens if an agreement cannot be reached? While it is always stressed that negotiations and mediation are the most efficient and cost-effective ways to handle severance agreement disputes, our law firm provides experienced litigators and arbitration advocates to represent employers and employees.
Helping Clients Throughout MetroWest Boston and Central Massachusetts
For additional information about our contract and severance agreement counsel or to schedule your appointment, contact us online. You can also call our law firm at 508-471-3018. We look forward to discussing your business and employment law matter with you.