Understanding Your Severance Agreement Before You Sign

As the summer ends and the fall begins, I realize that I have spent an enormous amount of time during the last 3 months reviewing Severance Agreements for clients who recently lost their jobs. Reviewing Severance Agreements is nothing new for me, but lately, I have been reviewing 5-6 Severance Agreements just about every week. Clients want to fully understand what they are signing and comprehend all of the potential pitfalls, problems, burdensome obligations, and possible liabilities that Employers routinely sneak into Severance Agreements. 

I offer an efficient process for providing a complete analysis of the Severance Package, providing notes and highlights for the clients of all provisions that create problems/liabilities and/or should be changed. 

Each Severance Agreement is different, so I cannot answer any questions about the clients' rights and obligations without first reviewing their documents. The way I handle these matters is for the client to email to me all of the relevant documents that the employer provided. Then, I take a quick look at the length and complexity to determine how long it will take for a thorough analysis, to make notes for the client to utilize, and to call the client to discuss my findings, answer questions, and provide advice on what can be done. Based upon that estimated amount of time it will take, I propose a reduced, flat fee for my services. 

Although I provide a free 15 minute telephone consultation, reviewing the documents and calling to explain everything and answer questions takes more than 15 minutes. If the client thinks the reduced, proposed fee is reasonable, then we proceed, but if the client thinks the amount is unreasonable, then there is no obligation and no hard feelings. 

If anyone has questions about their Severance Packages and wants to sleep better at night knowing that they fully understand everything, did not miss any issues with the documents they will be signing, and compare their Severance Packages to other Severance Packages I have seen lately in similar situations, I would be delighted to assist you. 

You can begin the process by emailing a written timeline of events describing what led up to your job loss, as well as your Employment Contract or Offer Letter Agreement, and the proposed Severance Agreement (and all other relevant documents,) to me at cmweiss@foxweiss.com, and then I should be able to get back to by the next business day.