Leesburg Severance Agreements Lawyer
A severance agreement specifies what happens when an employee leaves their employer. It is essential that both the employer and employee fully understand the scope of the agreement. Although there are many benefits of having a severance agreement, issues can arise when they are executed hastily without a comprehensive review or negotiation of the terms.
Our Leesburg severance agreements lawyers are skilled in preparing, reviewing, negotiating, and resolving disputes revolving around severance agreements. We can advocate for your best interests to make sure you leave your employer on favorable terms. A qualified employment attorney from the Spiggle Law Firm is ready to take your case.
Basics of Severance Agreements
Leesburg employers are generally not required to offer an employee severance pay absent an existing contract requiring it. When severance pay is offered, the amount paid out varies depending on the employer, the employee, and their relationship. An employee does not necessarily need to have a high-level position to be offered a severance package, employees at any level may be offered or may request a severance agreement.
Severance agreements traditionally provide employees with financial benefits in exchange for a release of all legal claims against the employer. The financial payment may come in the form of a lump sum cash payment, structured payments over a specified time period, or a combination of the two.
Other benefits aside are often negotiated into the severance agreement. Clauses regarding confidentiality, non-compete, or non-solicitation agreements may also be included depending on the circumstances.
Benefits of an Agreement
Severance agreements can help support employees financially while they are between jobs. They can also make an otherwise awkward departure and transitional period more amicable between the parties. If the employee’s departure was not their decision, severance agreements can also help maintain the reputation and goodwill between an employer and their employees.
Since most employees in Leesburg are employees “at-will,” you are free to resign from their position at any time. In addition to resignation, a severance agreement may be appropriate when an employee is laid off, fired, or is retiring. As a Leesburg severance agreements lawyer could explain, regardless of the circumstances, a severance agreement can help both you and your employer leave a relationship that is no longer beneficial.
Waiving Discrimination Claims in Leesburg
As long as the employee receives something of value in return, it is usually permissible for an employer to request the employee release all discrimination claims against them. There are of course certain caveats to this general rule. Waivers of discrimination claims should always be made knowingly and voluntarily.
Claims under the Age Discrimination in Employment Act (ADEA) in particular have strict guidelines that must be followed in order to obtain a valid waiver. Employees who are asked to waive claims under the ADEA must be given 21 days to contemplate the agreement, 45 days if the agreement is offered as part of an exit incentive or group termination program, and a seven day period during which they can revoke the agreement.
A Leesburg Severance Agreements Attorney Can Be an Advocate
A reliable Leesburg severance agreements lawyer at the Spiggle Law Firm knows that every contract is unique. Our lawyers have knowledge and experience necessary to handle the many issues that may arise concerning your severance agreement. With us, you can be confident that we have the knowledge and experience to tailor our approach to meet your objectives. Click here for a free online consultation to learn how we can help.