Malibu Severance Agreement Lawyer

Malibu Severance Agreement Attorney

It can be an overwhelming and frustrating experience to find out you are going to lose your job. Depending on how much notice you were given, you may not have another job lined up. In some cases, your employer may offer you a severance package in an attempt to give you some financial security while you search for new employment. Your severance may not be what you expect, and you should have a Malibu severance agreement lawyer look it over for you.

What Are Severance Agreements?

In some careers, depending on the company and how many years you have been there, you may be offered a severance agreement upon termination. A severance agreement is essentially a binding contract that stipulates the various conditions of your separation from the company. They largely protect your employer from any legal situation that could arise from terminating your employment. A severance agreement also provides you with an ongoing salary for a set time.

Your severance agreement might include non-negotiable stipulations that prohibit you from taking any sort of legal action against them, even if you were wrongfully terminated. By signing the agreement, you are agreeing to not pursue legal action in addition to any other terms laid out.

It is important to note that California is an at-will employment state, which means every employer in California can fire employees without cause and is not required to provide any kind of severance upon termination. It is entirely up to the company if they want to provide severance pay or have their terminated employees sign a severance agreement. If you do not agree with everything in the agreement, bring your concerns to a severance agreement lawyer.

It is also important to note that under the California Labor Code, your employer is not legally allowed to withhold any wages that you are owed at the time of your termination. Your severance package must include those wages. You may also be reimbursed for any unused vacation or sick time, and your health insurance coverage may continue for some time, depending on the company and what they are willing to provide their terminated employees.

Common Conditions in a Severance Agreement

Some people may think of a severance agreement and immediately picture a substantial check. While your severance agreement will likely include your severance pay, a severance agreement is really a contract between you and your employer in which you agree to leave the company quietly without making things difficult. Should you go against the agreement after you sign it, you may face legal repercussions. Here are some common conditions in severance agreements:

• Confidentiality Agreements: Depending on the nature of your work and what your company is responsible for, you may have a substantial amount of access to or knowledge of confidential practices. This includes customer information, trade secrets, and other information that could make life difficult for your employer should you decide to share with the public. A standard non-disclosure agreement (NDA) will likely be included.
• Health Insurance Benefits: It can feel upsetting and concerning to lose your health insurance benefits. A good severance agreement may allow you to continue your health insurance benefits for a time. It will likely include information about the Consolidated Omnibus Budget Reconciliation Act (COBRA), as well as other possible ways you may be able to maintain health insurance until you can find other employment.

FAQs

Q: Is It Worth Giving Up Employee Rights for a Severance Package?

A: When you are offered a severance package, you have to determine for yourself whether it is worth giving up certain rights in order to accept said severance. Before making such an important decision, you should reach out to a severance agreement lawyer and voice your concerns. They may be able to help you decide if you would have more success taking legal action against your employer, especially in the event of a wrongful termination.

Q: What Is a Fair Severance Package in California?

A: It’s up to you to determine whether a severance package is fair to you and reflects your years of faithful employment. If you feel the severance package you are given is solid, appropriate, and acceptable, then you are within your right to accept it. If you have concerns about certain terms, you should reach out to an experienced severance agreement lawyer who can look it over and give you suggestions for what would be a more appropriate agreement for you.

Q: Why Would an Employer Offer Severance if They Are Not Required?

A: Every employer has its own reasons for offering its terminated employees a severance agreement. Sometimes, it may just be an honest way to thank them for their work and give them some help with the transition to a new position. Other times, the employer may just wish to protect themselves from any possible legal issues that could arise from your termination.

Q: Do I Have to Sign a Severance Agreement?

A: No. You are under no legal obligation to sign a severance agreement that your employer proposes. You may still be able to receive severance pay without signing the agreement, but you should discuss this option with a severance agreement lawyer first. Most times, an employer will require an employee to sign an agreement. It depends entirely on the employer and what they need you to do in order to get your severance if offered.

Contact a Severance Agreement Lawyer Today

Losing your job can be a tough situation to find yourself in. You may be feeling unsure of the future and insecure about your place in the world. If you are offered a severance package, you should consider having an experienced lawyer take a look at it to ensure you aren’t being taken advantage of.

The legal team at the Law Offices of Corbett H. Williams can provide you with peace of mind and the confidence that things are being properly handled on your behalf. Contact us to schedule a consultation with one of our team members soon.