At Caffarelli & Siegel, our employment lawyers are experienced in the realm of negotiating severance agreements. Employers are not generally required to offer their employees severance upon termination of the employment relationship. However, employers will often consider former employees’ circumstances on a case-by-case basis to determine whether they will offer any type of severance pay. Typically, an employer will offer severance as a gesture of good will, or sometimes as an insurance policy against the possibility of future legal claims by the employee. A number of factors may affect of the employer’s decision regarding severance, such as the former employee’s record with the company, the length of employment, and the circumstances of the employee’s departure.
Generally, severance agreements compensate employees at the end of their employment relationship with the employer, and can provide some financial stability during the employee’s transition from the company. Often, in exchange for this compensation, severance agreements will contain language which releases the employer from legal liability stemming from the employment relationship. In addition, it is possible that the agreement might impose new obligations on the former employee, including a promise from the former employee to refrain from certain work or activities.
At Caffarelli & Siegel, our attorneys will review your employment history, as well as the circumstances of your termination or resignation. It may be possible, based on this review, to negotiate the severance offer or to request an offer if one has not yet been made by the employer. Further, after receiving the severance offer, our employment attorneys can review the document for mutuality and other legal issues.
If you would like to discuss the possibility of obtaining a severance offer from your former employer, or if you would like an attorney to review the terms and conditions of your severance agreement, contact Caffarelli & Siegel Ltd. to speak to a Chicago Employment lawyer. |
