Strategic Severance Issues Attorney Serving Hillsborough County & Pinellas County Clients
Some employers offer severance payments or packages when they lay-off or terminate an employee. The key difference between severance and unemployment benefits is that a severance agreement typically requires some form of concession from the employee. Attorney Craig Berman has helped countless clients negotiate severance agreements and can help you determine if this option makes the most sense for you personally.
Are Severance Packages Mandated by Law?
In short, there are no state laws that require your employer to offer you a severance package upon your termination. To that end, you do not have to sign any severance agreement you don’t want to. Employers typically offer severances to employees who have been with the company for many years or who agree to some terms not included in their initial employment offer, non-disclosure agreement, or non-compete agreement.
For example, your employer may offer you a severance package that pays you $10,000 upon your termination and allows you to keep your company-provided healthcare coverage for six months as long as you agree that you won’t apply for a job with their top three competitors.
Why You Need an Employment Law Attorney
Generally speaking, severance agreements benefit the employer more than they do the employee. What might seem like a great deal upfront may hurt you in the long term. If you have been offered a severance package and are not sure whether or not to sign it, call Craig Berman today. He will look over all of the documentation, ask you questions about your time with the company and the reason for your termination, and advise you on how to proceed.