Important Information About Separation Agreements
One of the more critical times for employees is at the end of their employment. At that time, employees often enter into a separation agreement with their employer.
How These Contracts May Affect Your Future
Separation agreements, including severance agreements, legally bind an employee to the agreement’s terms and conditions after their employment.
Those terms may, for example:
- Waive any and all claims the employee has against the employer
- Limit the employee’s future work opportunities
- Prevent the employee from seeking certain benefits, such as unemployment compensation
You should speak with an experienced employment attorney prior to signing a separation agreement given the rights you may be waiving. In addition to having the agreement’s terms and conditions explained, an attorney may be able to negotiate more favorable terms on your behalf.
Since your employer is likely receiving the benefit of legal advice, so should you.