Understanding Severance Agreements

Severance agreements can be complex and often contain critical terms that affect your future employment and financial stability. This guide explains what a severance agreement is, the key components to watch out for, and why it's essential to consult an attorney before signing.

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What is a severance agreement?

A severance agreement is a contract between an employer and an employee that outlines the terms of employment termination. It often includes severance pay, benefits, and other compensations in exchange for the employee's agreement to certain conditions.

Key components of a severance agreement

Severance pay: The amount of money offered as severance.
Benefits continuation: Details about the continuation of health insurance or other benefits.
Confidentiality clause: Provisions requiring the employee to keep the terms of the agreement confidential.
Non-compete and non-solicitation clauses: Restrictions on working for competitors or soliciting former clients or employees.
Release of claims: A waiver of the right to sue the employer for any reason related to employment.

When to contact an attorney

To understand complex terms: An attorney can explain the legal jargon and ensure you understand the implications of each term.
To negotiate better terms: An experienced attorney can negotiate on your behalf to secure better severance pay, benefits, and other terms.
To ensure fairness: An attorney can review the agreement to ensure it is fair and does not overly restrict your future employment opportunities.
To protect your rights: If you believe you were wrongfully terminated or discriminated against, an attorney can advise you on additional claims or legal actions.

What Our Clients Are Saying:

Unfortunately, I had EEOC issues that I could not resolve with my employer. After several weeks of searching for a law firm with the knowledge, ability and resources to take on an EEOC case against a large agency, I heard about Tully Rinckey, PLLC., Allen Shoikhetbrod, my attorney at Tully Rinckey, is phenomenal. Allen is extremely knowledgeable about EEOC and government agency issues. Experienced, honest, professional, detail-oriented, empathetic and warrior are words I would use to describe him. Tully Rinckey is a professional law firm that cares about the individual, not just the numbers. There were no surprise or hidden fees, phone calls and emails were promptly answered. The legal representation and advice provided during my case was well worth the cost. I would definitely recommend Tully Rinckey to family and friends.

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We needed some quick and basic legal advice for our company regarding employee relations. Within 24 hours of calling we had a phone consultation set up with a lawyer (one specialized in our type of legal subject). Ryan was attentive, thorough and answered all our questions. The fee was very reasonable as well. All the other firms I called were booked up for a while and required and In-Office consult which we didn't have time to wait for - we needed advice ASAP. Tully Rinckey came though and gets 5/5 stars and we will definitely be returning for any/all our future legal challenge.

Gretchen G.

My experience with Allen S. was nothing but professional. I was referred to Allen by a former colleague and he did not disappoint. Allen was very down to earth, very knowledgeable and he thoroughly explained the EEO and ADR process, while helping me manage my expectations for resolution. I was well represented in my ADR and so I felt heard by management in my complaint. If you’re looking for strong representation in your EEO case, I would highly recommend that you reach out to Allen S. He did a fabulous job and I am a satisfied client.

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When a Judge refers to your attorney as the world famous Mat Tully, you know you have the right lawyer on your side. Mr. Tully has won several cases for me, with one being a landmark decision, and I watched as he took on the US Department of State, the US Department of Justice and wowed the entire Merit System Protection Board. When you have a case involving military, employment law or USERRA, you must call Mathew Tully first. Mr. Tully is a military officer, former civilian federal employee and a columnist, so he knows the system inside and out. He will explain the strengths and weaknesses of your case and then provide a clear, unambiguous direction and strategy. He is a no nonsense lawyer and will not accept any money from you unless he feels he can truly win.

M.A.G

Consult with Our Maryland Employment Law Attorneys About Your Severance Agreement

If you have been offered a severance agreement in Maryland, don’t sign it without first consulting with an experienced employment law attorney. Severance agreements can be complex and may contain terms that significantly impact your future employment and financial well-being. Our knowledgeable Maryland employment law attorneys at Tully Rinckey PLLC are here to review your agreement, explain your rights, and fight for the fair treatment and compensation you deserve.

To schedule an initial consultation with a member of our experienced team, contact us 24 hours a day, 7 days a week, at 8885294543 or info@tullylegal.com. You can also book your consultation online via the link below.

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