Severance Agreement And Negotiation Lawyers In Iowa And Nebraska
Your employment is over, but you were offered a severance package. However, before you agree to the terms of a severance agreement, you should understand your rights.
At Fiedler Law Firm, P.L.C., our lawyers can help you negotiate a severance agreement. From our Johnston office near Des Moines and our Omaha office, we are uniquely positioned to assist clients in both Iowa and Nebraska and help you get the most from your severance package.
What Is A Severance Package?
Severance packages are a set of benefits and compensation offered to employees who are laid off or terminated due to no fault of their own. It can include:
- A lump-sum payment or a series of payments
- Extended continuation of health and life insurance
- Payment for any accrued vacation or sick leave
- Outplacement services, including guaranteed recommendations
In exchange, severance packages often require an employee to agree to nondisclosure agreements, confidentiality clauses or other measures designed to protect the company’s interests. It’s not uncommon for an employer to offer severance in exchange for a waiver, releasing the employee from any wrongful termination claims.
Who Can Receive Severance?
Severance is not guaranteed unless it is part of your initial contract or promised in the employee handbook. Many businesses utilize severance packages, however, as a gesture of goodwill to avoid negative press when an employee is laid off or their position is eliminated.
Do You Have To Sign A Severance Agreement?
A severance agreement outlines the terms of a severance package, such as clauses that prevent employees from saying anything negative about the company. Employees do not have to agree to an offered severance package. You should review the terms of a severance agreement with an experienced lawyer to fully understand the implications of the contract.
Can You Negotiate Your Severance Agreement?
You can negotiate the terms of any employment agreement, including severance pay, duration of health benefits, stock options and retirement plans. With the right negotiation tools, employees have the potential to alter certain restrictive rights in an employment contract. A severance agreement lawyer can provide leverage during the negotiation process.
Talk To An Attorney Today
Let an experienced employment law attorney review your severance agreement. At Fiedler Law Firm, P.L.C., our team can assess the fairness of the offer and negotiate on your behalf. Start a conversation with an experienced severance agreement attorney. Call our Iowa office at Iowa Office, our Nebraska office at Nebraska Office or use our online contact form to reach out.