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New York And Connecticut Severance Agreement Lawyers

Severance Pay Negotiations & Termination Agreement Review

The employment attorneys at The Boyd Law Group, PLLC have extensive experience evaluating and negotiating severance agreements on behalf of employees and executives. Employers often offer severance packages to employees during company layoffs or when employees are terminated without cause. If you employer has asked you to sign a severance agreement it is important to evaluate whether the benefit of severance pay outweighs the consequences of giving up certain rights.

When your employment ends your employer often offer severance including continued medical coverage in exchange for your waiver and release of potential claims. You should consider the value of the claims you are waiving and any non-compete/solicit options that might impact your next job which will likely be referenced in the severance agreement. It is virtually always the case that severance agreements include a section prohibiting you from taking legal action against your employer.

The terms and conditions of these agreements are extremely important, to understand especially if you have been discriminated against, retaliated against, harassed, wrongfully terminated or denied earned wages. They are also important to be reviewed if stock or some ownership/equity interests are at play. If you are being presented a proposed severance agreement in association with the termination of your employment, you may benefit from securing the guidance of an employment attorney who may assist you in understanding your rights and whether the terms of the proposed severance agreement are equitable under the circumstances and in your best interests.

What a Severance Package Might Include

A severance package might include or be negotiable as to:

  • Lump Sum Payments Based on Tenure with the Company or Claims You Have
  • A Reference – Neutral or Otherwise
  • Continuation of Salary for a Period of Time
  • Payment for Unused Sick Time or Vacation Days
  • Extension of Medical Benefits
  • Retirement Benefits
  • Stock Options and / or Vested / Unvested Stock
  • A Pro Rata Share of Your Bonus or Commissions
  • A Cooperation Provision
  • A Non-Compete/Solicit Provision
Why Are Severance Agreements Offered to Business Executives?
  • Prior to accepting a position, employees in executive positions often negotiate an employment contract that includes a payment of severance to the employee in the event of any separation from employment as an inducement for the executive to join the company. These provisions vary substantially
  • Severance pay for executives and management-level employees is larger than the payments offered to non-managerial employees. Whether the proposed separation pay is fair depends upon the potential value of the legal claims that the executive is being asked to release, as well as other considerations. An employment lawyer with The Boyd Law Group can help executives evaluate the severance agreement they have been asked to sign.

The employment lawyers at The Boyd Law Group can review your severance agreement, explain the terms, and answer your questions to ensure you are making an informed decision. We can help you identify your options, and we may be able to negotiate more favorable terms for you. The employment lawyers at The Boyd Law Group have advised many executives, professionals, and employees about their severance agreements. To schedule a review of your severance agreement, please call us at (800) 617-4254  or fill out our form on our Contact Us  page.

Client Reviews
A good friend of mine recommended Patrick Boyd and The Boyd Law Group. I had been laid off from a top Asset Manager as part of a RIF and believed I was entitled to more executive severance than was being offered to me. It's a given that a top employment lawyer would know the law and the rules of engagement. But Patrick was more than that. Right away I knew I was in great hands. Patrick is empathetic and inspires confidence. He has more "EQ" than most anyone else I've worked with in 20 years on Wall Street. When dealing with my former employer, he knew when to push and when to pull; when to use honey and when to use vinegar. The result was a much higher settlement than I imagined I could get. It was because of Patrick and his ability to "read the situation and the personalities" that I got what I did. He's always available as we spoke on the cells on Sunday mornings and at nights in addition to during the day. Total Pro. Great team in the office as well. I highly recommend Patrick Boyd. From An Ivy League Graduate And Wall Street Executive We Represented In Severance Negotiations
★★★★★
Patrick was there for me from the beginning, taking me under his wing during a very stressful period. His sound legal judgment kept me grounded and protected my rights. He was always available for consultation, even at night. He works extra hard for his clients. I feel he became more than my lawyer, but a friend, too. From A Publishing Executive Seeking Help With Severance Package Negotiations
★★★★★
BLG was retained to aid in employment dispute matter. He maintains excellent qualifications, experience and prudence in representing me. He always operated transparently and communications to alleviate my concerns and keep me apprised of progress. As a result, we were able to settle in a effective and efficient manner. I highly recommend The Boyd Law Group. From An Accounting Executive That Retained Us For Severance Agreement Negotiations
★★★★★
When my employer conducted a "reorganization" and suddenly fired a half dozen top management people including me, I needed an experienced attorney to quickly review my situation with respect to labor laws which may have been violated and compensation which was due to me but the employer was refusing to pay. Steve got on the case immediately, identified my rights, and quickly put the employer on the defensive. His efforts resulted in the desired outcome. Most important, Steve was a pleasure to work with, and made a difficult situation much easier on me. From An Executive With Stock And Executive Compensation Issues
★★★★★
I am writing to give my highest possible recommendation for Patrick Boyd and his team at The Boyd Law Group. Originally, Patrick came highly recommended. I had the distinct pleasure of working with Patrick and his team and successfully leveraging their significant experience. Patrick’s exceptional expertise, his thoughtful, deep, logical, and pragmatic approach along with the comprehensive execution of his team are truly unique! On my behalf, Patrick was engaged in non-trivial and lengthy negotiations, which resulted in a successful outcome. He was honest, warm, and very upfront with me at the very beginning and explained to me that It would be a very long and bumpy road, and that I basically have two choices. First was to agree with my current conditions, which wasn't acceptable for my family. The second choice required me to buckle up and be as calm and as emotionless as possible for a long time, which wasn’t always easy. Nevertheless, Patrick succeeded with getting the absolute majority of my needs met and was able to close the whole deal to my complete satisfaction. Overall, my entire work with Patrick and his team exceeded my initial, high expectations, and I still continue working with him to this date. Patrick is a truly unique expert and person, and I whole-heartedly recommend talking to him regarding your employment law related needs. From A Chief Data Officer At A Blue Chip Company With Ageism Claims Relevant To A Severance
★★★★★