Navigating Severance Agreements in New York City: Protect Your Rights and Future

 Severance agreements can be complex documents filled with confusing legal language. If you’re facing the end of your employment, understanding the terms and conditions of your severance package is crucial. Before you sign anything, it’s essential to consult with an experienced employment lawyer to ensure you’re fully aware of what you’re agreeing to — and what you might be giving up.

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Understanding Severance Packages

A severance agreement is a binding contract that outlines the rights and responsibilities of both the employer and the employee upon separation. It typically includes:

• Severance Pay and Benefits: Details about the compensation and benefits you’re entitled to receive.
• Conditions and Clauses: Specific conditions that could affect the delivery of your severance package.
• Waivers and Releases: Agreements where you may waive certain rights, such as the ability to sue for potential discrimination or harassment claims.

Once signed, these agreements are usually irrevocable, meaning you can’t change your mind later. That’s why it’s vital to understand every aspect before putting pen to paper.

Why You Need an Employment Lawyer

An employment lawyer can:

• Review the Agreement: Ensure the terms are fair and that you’re not unknowingly giving up important rights.
• Negotiate Better Terms: Leverage your employment history and any potential claims to secure a more favorable package.
• Protect Your Interests: Make sure you’re receiving compensation beyond what you’re already entitled to, such as unpaid wages or accrued leave.

Having a lawyer negotiate on your behalf shows your employer that you’re serious about protecting your rights and understand the value of your position.

Know Your Rights Under the OWBPA

If you’re over 40 years old, the Older Workers Benefit Protection Act (OWBPA) offers additional protections:

• 21-Day Review Period: You have 21 days to consider the severance agreement if it’s solely for you.
• 45-Day Review Period: If the agreement is part of a group termination, you have 45 days.
• 7-Day Revocation Period: Even after signing, you have 7 days to revoke your acceptance.
• Additional Compensation: Any waiver of rights should come with extra benefits beyond standard severance pay.

These provisions are designed to protect you from age discrimination and ensure you don’t waive your rights without adequate consideration.

Take the Next Step with Mansell Law

Don’t navigate this complex process alone. At Mansell Law, we’re experienced severance negotiators dedicated to helping employees in New York City move forward confidently.

• Personalized Consultation: We’ll review your severance agreement in detail.
• Strategic Negotiation: We’ll negotiate with your employer to secure the best possible terms.
• Future Protection: We’ll help you understand any rights you’re relinquishing and ensure you’re compensated fairly.

Call us today at 646–921–8900 for expert advice and to protect your future.