Navigating Severance Agreements: A New York City Guide to Negotiation and Review
When facing the end of employment, understanding your severance package is crucial. Severance agreements often contain complex and confusing legal language, making it essential to consult with an employment lawyer before signing. At Mansell Law , we specialize in helping employees in New York City ensure their severance packages are fair and that they move on with the best possible terms for their future. What Is a Severance Agreement? A severance agreement outlines the terms of separation between you and your employer. It includes severance pay, benefits, and other conditions that may affect your rights. Importantly, it is a binding contract that requires consideration from both parties — this means both you and your employer must give something of value in exchange for the agreement to be valid. Severance packages often include compensation beyond your final paycheck and accrued leave, but in return, you might be asked to waive certain rights, like the ability to sue your emplo