Negotiating And Enforcing Severance Agreements
At the Law Office of Stanley B. Cheiken in suburban Philadelphia, I represent executive, professional and high-earning employees across Pennsylvania and New Jersey. I assist them with the negotiation and enforcement of severance agreements to resolve employment disputes. I have more than 30 years of experience as a business and employment attorney.
Severance Packages Are Often Too Small
I frequently review severance offers that my clients have received, and I find that close analysis of these situations yields the discovery of multiple areas where the offer can be improved. My objective is to identify and assign a value to the full range of rights that your employer wants you to waive. More often than not, the first offer ignores a significant quantity of that value.
Whether you need assistance with an existing severance package or will need assistance soon, reach out to me as soon as possible. I will do everything in my power to maximize your severance payments.
Severance FAQ
Severance agreements can be complex, and it is important to understand your rights and options. Here are answers to some common questions about negotiating severance packages.
What should I consider when negotiating my severance package?
It is crucial to consider several factors, such as:
- Compensation: Evaluate the financial aspects, including severance pay, bonuses, and any unpaid wages or commissions.
- Benefits: Assess the continuation of benefits such as health insurance, and whether your employer will cover COBRA premiums.
- Equity: Consider any stock options or equity interests and the terms related to their vesting or liquidation.
- Other terms: It is important to understand the full terms of the agreement and whether it may impact future employment opportunities. For example, if it includes any noncompete or nondisclosure agreements, you will want to make sure the terms are fair and reasonable.
When you work with me, I can ensure that nothing gets overlooked in negotiating a fair severance package for you.
What if my employer refuses to negotiate my severance package?
If negotiations stall, consider seeking legal advice to better understand your rights and explore any potential leverage you may have. I can assess whether the initial offer is fair and identify any legal actions you might take.
Am I entitled to a severance package?
That depends on several factors, including your employment contract, company policy and state laws. Some employers offer severance as a standard benefit, while others may only provide it under specific circumstances, such as layoffs or restructuring. Review your employment contract or company handbook for any mention of severance policies. If no formal policy exists, you may still be able to negotiate a severance package based on your potential claims, tenure, position or contributions to the company.
Can I negotiate for more than what is initially offered?
Yes. Employers often anticipate negotiations and start with a low offer. I can help you identify areas where you can request improvements, such as increased severance pay, extended benefits or favorable terms for stock options. I can help you highlight your achievements and the value you brought to the company to strengthen your case.
Let Me Review Your Severance Offer Or Agreement
I can apply my vast knowledge of severance law to your situation to help you come out ahead. For a free consultation about my ability to represent your interests effectively in any severance negotiation or dispute, contact my firm in Langhorne, the Law Office of Stanley B. Cheiken, at 215-572-8600.