New York City Severance Agreement Attorney
Many employers provide severance packages to employees who are laid off. These packages often give employees about to lose their position much-needed financial and medical insurance support for a certain period of time. However, depending on the terms of the particular severance agreement, a person may be waiving legal rights they otherwise have. Having an attorney review your severance agreement before you sign it may be critical for protecting your rights. Call (212) 868-6300 to have your severance agreement reviewed and explained to you.
Contesting, Reviewing, and Negotiation Severance Agreements
When receiving a severance agreement, it is not uncommon for an employee to simply sign the agreement, and wrongly assume that they are “lucky” to receive the package. However, in many cases, not only is this agreement not the best possible one an employee can receive, but may prevent them from taking legal action that they could otherwise have pursued. In fact, in many cases, employees should considering taking one of the following actions:
- Contesting – a person who is receiving a severance package might actually have been illegally fired due to discrimination or had the terms of an employment contract breached. In these situations, an employee should consider contesting an agreement and possibly pursuing other legal action.
- Reviewing – when individually reviewing your severance agreement, you may see nothing wrong with it; however, an attorney who is skilled in such matters might be able to find ways in which the agreement can be improved to better suit you and your needs.
- Negotiating – many employees feel as if they have no power in negotiating the terms of their agreement. However, this is not necessarily the case. From blatantly unfair terms to using your leverage in not being legally bound to accept such an agreement, there are many ways in which an attorney might be able to negotiate your agreement.
If you are an employee who was terminated and offered a severance package, taking legal action might be in your best interest. Additionally, if you are over 40 years old and have already signed the severance package, under the Older Workers Protection Act you may have seven days from the date of signing to revoke your consent.
Unemployment Insurance
Recent changes to unemployment compensation insurance in New York now requires that any severance payment received within 30 days of termination of employment count against a laid off employee’s entitlement. For this reason, an employee must understand the impact of salary continuation programs or lump sum payments if they also intend to collect unemployment insurance. This is just one of many issues that are considered by an attorney at Cary Kane when reviewing a severance agreement.
Contact a Severance Agreement Lawyer
When you have been let go from your job, both your finances and future job opportunities are a major concern. Make sure you get the best severance package possible and protect your right to future employment by consulting a skilled attorney from Cary Kane LLP. We can help you determine whether you need to contest your severance agreement, in addition to explaining it to you and possibly renegotiating it for you. Call us at (212) 868-6300 today.