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Walnut Creek Severance Agreement Attorneys
Protecting Employees Rights From Severance Agreements in the Bay Area
The paperwork you sign when you leave a job is just as important as the paperwork you sign when first starting, if not more so. In a legal document known as a “severance agreement,” there can be many sections of fine print that can dramatically impact your post-job life. Too many people breeze past these agreements, but it’s vital that you have your severance documents looked over by a qualified severance agreement attorney before you sign anything. When ending a period of employment, there are several terms that you must negotiate, in order to protect yourself moving forward, since your employer will be doing the same. No matter what your situation is- whether you’re about to leave a job, or you left a while ago and now you’re having legal troubles, come to Ratner Molineaux, LLP.
Basics of a Severance Agreement
A severance document isn’t just about money. In addition to details about a potential financial package, the agreement’s language also encompasses things like: money owed to you or by you, health and retirement benefits, intellectual property/proprietary information guidance, non-disparagement clauses, non-compete requirements, cooperation provisions, and release of claims clauses. Basically, this agreement spells out your obligations to your former employer, and its terms will affect you many years into the future. This is why it is so critical that you consult with an employment attorney in Contra Costa, Alameda, Solano, and San Joaquin Counties, before signing this contract. Our Walnut Creek severance agreement lawyers know the complexities of severance contracts, and can give you the guidance you need, to move forward with confidence.
How is Severance Pay Calculated?
There is no standard way that severance pay is calculated. One example of how severance pay is calculated to be one week of the employee's standard rate of pay, multiplied by the number of years the employee worked. Other employers may choose an arbitrary amount or others will choose a specific calculation that is in an employment contract or policy.
Generous severance packages may include up to two weeks of pay for every year the employee has worked for the company or other benefits such as bonuses or medical insurance.
What to Look Out For in a Severance Agreement
Do not simply sign a severance agreement without reading it. In a severance agreement, be sure to pay attention to:
- If the termination was unfair
- If you are being retaliated against
- If there is a non-compete clause
- If it involves admissions of fault
- How favorable the offer is – remember that severance agreements are negotiable
- How restrictive the terms are
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If you want a legal eye to look at your severance agreement, or you have questions about your rights after signing an existing agreement, we are here to help. Reach out to our law firm today for your free consultation.