Am I entitled to a severance agreement?
Am I entitled to a severance agreement?There is no legal requirement that you receive any form of severance when you are terminated from your job. That being said, many employers will offer a severance package. This package comes in the form of a give and take-they will give you a severance payment in exchange for taking away any and all claims that you may have against the company.The only time when you have a guarantee of a severance payment is when you have an employment agreement, usually signed at the start of employment, which clearly spells out the circumstances under which a severance payment will be made and the exact amount of severance. Also be aware that your application for unemployment benefits will require that you disclose any amounts received from your employer paid as wages and that this may affect the amount of jobless benefits that you may receive from your state. You may, however, be able to negotiate a severance package from your employer, and this largely depends on the nature of claims that they wish to silence. You should contact an attorney to discuss the facts and circumstances of your employment and separation therefrom to evaluate whether you are able to negotiate a severance payment from your former employer.
2020 Solo Small Firm Conference-NJSBA