To Sign or Not to Sign: Confidential Severance or Separation Agreements
When you have been terminated or you have resigned from a company you will often be asked to sign what is called a severance and/or separation agreement. These agreements typically give you 21 days to decide whether you want to accept compensation and/or benefits in exchange for agreeing not to sue the company or any of its personnel under the Labor and Employment laws. You typically have seven (7) days to revoke the agreement once you have signed.
If you are presented with a separation agreement you should always have it reviewed by an attorney before you sign it. These agreements are typically enforceable against the employee and can prevent you from bringing legal action to recover money owed to you by the business and possible discrimination actions the employee could maintain based on age, sex, or race. Even if you do not have any potential claims against the company an attorney may be in a position to negotiate a more favorable settlement for you. Twenty-one (21) days is not much time to make a potentially life changing decision without the assistance of legal counsel. At Schwam-Wilcox & Associates, we can assist you with the negotiation and or law suit if you choose not to sign the Severance or Separation Agreement. Contact our office to discuss your individual needs with an attorney by calling 407-245-7700, e-mailing to firstname.lastname@example.org or by visiting our website at www.cbswlaw.com.