If you have been offered a severance, asked to sign a "release" or "severance agreement", or believe you should be paid a severance, it is extremely important that you contact a lawyer with experience in negotiating severance agreements immediately.
What is a Severance Agreement?A Severance Agreement is essentially a written contract between the employee and an employer that provides the terms of the end of employment between the employer and the employee. Severance Agreements may also be offered to employees who are laid off or facing retirement or those with potential claims against the employer. In addition, depending on the circumstances, a Severance Agreement may be offered to an employee who resigns or is terminated. The Severance Agreement must have something of value (also referred to as consideration) to which the employee is not already entitled. Employers are generally required to provide an employee time to consider the Severance Agreement before signing.
Common Severance TermsIn order to protect your rights, an experienced employment lawyer will advise you and negotiate on your behalf regarding the following issues:
- Financial terms, back and front pay and timing of severance payments
- Continuation of employment benefits (i.e. health, etc.)
- How the employer can describe why the employee left
- Unemployment compensation issues
- References (positive, neutral)
- Re-hiring potential
- Preservation of trade secrets
- Recommendation letters
- Waivers of Claims against the employee
- Return of employer property
- Tax issues
John E. Davidson, Esq. leads our firm's employment law practice. For his biography, click here.
Contact UsIf you need assistance with a severance agreement, please call us at (434) 972-9600 or contact us.
Davidson and Kitzmann, PLC
211 E High Street
Charlottesville, Virginia 22902
Tel: (434) 972-9600
Fax: (434) 220-0011
We are located in Charlottesville, but our lawyers handle cases in Charlottesville, Albemarle County, Greene County, Fluvanna County, Louisa County, Nelson County, Madison County, Orange County, Roanoke, Harrisonburg, Staunton, Waynesboro, Augusta County, and across Virginia.