New Jersey Severance Agreement Lawyers
Severance Agreements: Complex and Potentially Damaging For employers, a severance agreement is a risk management tool. In the absence of a contract, employers are under no obligation to offer a severance agreement, but may do so as a mechanism to avoid possible employment-related legal claims which could be brought by the employee. A severance agreement, which is sometimes called a separation agreement, is an enforceable contract. By signing the severance agreement, an employee typically agrees to receive certain compensations/benefits package in exchange for the waiver of certain rights. Most crucially, employees waive their right to sue their employers, for causes of action generically described as “wrongful termination.” This could include claims pertaining to disability discrimination, racial discrimination, sexual harassment, and discrimination based on other protected traits. It is important to make sure that the severance payment is commensurate with the value of the legal claims that you would be waving. An attorney can greatly impact the value of a severance agreement.
Severance agreements can be very complex. They may contain non-competition and non-solicitation clauses that could prove damaging, hindering an employee’s ability to pursue similar work in the area. Our role is to review and negotiate the severance agreement to protect the employee’s interests. One simple change could save you thousands of dollars in compensation, benefits and inconvenience in the future.
Protecting the Employee’s Interests. Employment contracts are typically drafted in favor of the employer. When an employee is asked to sign an employment contract or severance agreement, it should be reviewed by an experienced employment lawyer. At the Law Firm of Morgan Rooks, PC, we take great care to make certain that compensation is clear, benefits are maximized, and any ambiguity is removed. We have reviewed and negotiated agreements for many employees, including, but not limited to, people who are employed in including health care, education, real estate, hospitality, e-commerce, and banking.
Negotiating the Best Possible Employment Agreement
When we review an employment contract, we look closely at important issues such as restrictions on competition, performance reviews, bonuses, stock options, deferred compensation, relocation expenses, termination provisions, and events of default. We scrutinize the language of the employment agreement, looking to see what it there, and importantly, what language is not there. We take great care to make certain that confidentiality, non-competition and non-solicitation clauses will not hinder the employee’s future career and earning prospects.
Breach of Contract — Employment Contracts and Severance Agreements
When employment and severance agreements are violated by employers, we handle the ensuing disputes. We also defend employees who have been accused of breaching their end of contracts by violating confidentiality, non-competition or non-solicitation agreements.