Atlanta Severance Agreement Lawyer

When companies make the decision to lay off employees, one of the important factors they must take into account is the severance package. Severance is prominent when it comes to the firing of employees working under contract, and it provides additional compensation to act as a buffer until that person finds a new job.

These payments are usually contingent on the execution of a contract, and the money often has a lot of strings attached. If you have been asked to agree to these deals in exchange for payment as you exit a company, an Atlanta severance agreement lawyer can help. The employment agreement lawyers at Feldman Legal Group are ready to protect your interests.

What is a Severance Package?

The term “severance package” is used to describe any compensation or benefits provided to an employee after they are terminated from their position. This is most common when the termination results from factors outside of a worker’s control, like downsizing or restructuring.

The primary purpose is to offer a financial buffer to a former employee as they look for new opportunities. They can come in the form of a single cash payment in addition to compensation for any unused vacation or sick leave time. In some situations, it might also involve continuing to pay for benefits like health insurance for a set period of time. An attorney in Atlanta could help an employee review a severance agreement and understand their package.

Why Some Agreements Are Unfair

One of the reasons it can be vital to have the support of an Atlanta attorney is that the terms of severance agreements are not always fair. Not everyone realizes their rights related to termination, and the attorneys working for their employer can take advantage of that fact. For example, certain restrictions—like non-compete clauses or confidentiality agreements—must be a reasonable length for a court to uphold them.

Negotiating Better Terms

Thankfully, the terms of a contract are not set in stone. Both sides have the opportunity to negotiate, even though employers often adopt a “take it or leave it” approach. In reality, there may be more room for negotiating than most people realize. The employers have goals they want to accomplish when entering into these agreements, and they may be willing to make some concessions to achieve them.

Consequences of a Severance Agreement Breach

There are consequences for either side if the terms of these contracts are broken. When a former employee fails to comply with the agreement, they could forfeit any remaining benefits or be required to return the lump-sum payment. In some cases, they might even have to pay for the cost of their former employer’s attorney.

These contracts work both ways, and employers who do not uphold the terms can find themselves facing legal penalties as well. This might involve a lawsuit from a prior employee for the failure to pay the promised benefits. Legal action might also include additional damages caused by the breach.

Given the high stakes, it is important to run any severance agreements by an Atlanta attorney. With their help, it may be possible to avoid breaching the terms and dealing with the consequences that come with it.

Learn More From an Atlanta Severance Agreement Attorney

If you are facing the loss of your job, the company you work for might offer you a compensation package on your way out. This is not a gift or charity, as it likely comes in exchange for certain promises from you. To ensure you are treated fairly, reach out to an Atlanta severance agreement lawyer today.