Charlottesville Severance Agreements Lawyer

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Severance agreements in Charlottesville may seem like they provide protections to an employee in the event of job loss. However, business owners offer these employment contracts with their own interests in mind.

Therefore, it is advisable to seek advice from a Charlottesville severance agreements lawyer before signing a contract with your boss, as it could interfere with your legal rights or unfairly compromise your interests. An employment law attorney experienced in drafting severance agreements may be able to negotiate a compromise that meets the needs of both parties.

Legally Binding Contracts

In order for a severance contract to be legally binding for the employee as well as the employer, there must be some benefit provided to the worker. In many cases, the benefit is a lump sum, payments over a period of time, or continued insurance coverage. In exchange, the employee usually agrees not to bring a lawsuit against the business owner for wrongful termination.

If the severance agreement is considered a benefit plan under the Employee Retirement Income Security Act (ERISA), then it must comply with federal regulations. A Charlottesville severance contracts attorney could explain the obligations of both parties and determine whether ERISA protections apply.

Waiving Rights

A severance agreement can be used like a settlement in a lawsuit. For example, if a worker alleges unlawful discrimination in the workplace, their employer may offer a severance deal to get them to drop their claim.

A business owner might not admit that any wrongdoing occurred, but they could offer severance compensation in exchange for an employee giving up their right to sue. A worker may choose to waive their rights, but it is important to understand the ramifications before doing so and that an employer cannot ask for a waiver of rights involving future actions.

Overbearing Restrictions

Employers can include many types of restrictions in a severance agreement. The document could feature non-compete and non-solicitation clauses that restrict an employee’s ability to find work in the same field.

The contract could also require the worker to keep certain industry secrets or to refrain from derogatory comments about the company. The goal is to protect an employer’s business interests without infringing on an employee’s liberties.

A severance agreements lawyer in Charlottesville may be able to negotiate more favorable terms on your behalf. At the very least, an attorney could help ensure that you understand what you will lose in exchange for any compensation you receive from your boss.

Get in Touch with a Charlottesville Severance Agreements Attorney Today

Of course, it is possible for a business owner to offer a severance package as a form of goodwill to an employee they hope to rehire in the future. If you were asked to sign a severance agreement or if you are working under contract and your employment has been terminated through no fault of your own, you should consult with a Charlottesville severance agreements lawyer. An employment law attorney from the Spiggle Law Firm could help you understand your rights and how to protect your interests, so reach out to our firm today.