Unless you have a written employment agreement that provides for a severance upon your termination, you have no specific right to a severance payment. Nevertheless, there may be certain facts and possible violations of laws that could provide you with enough leverage to negotiate for a severance if none was offered, or to obtain a better severance than what is being offered. You may also be facing a hostile work environment, making it difficult for you to continue working but you cannot afford to resign without receiving a severance payment. Goldman & Ehrlich understands the balance of power between company and the executive and employee in termination agreements. For more than 25 years we have negotiated severance agreements for our clients. We know how to arrive at mutually beneficial settlements that protect our client’s interests. Contact Goldman & Ehrlich today to get started on your case.
When presented with a severance and release agreement, it is important that you consult with Goldman & Ehrlich before signing such an agreement. Once you sign a release, you lose all leverage in negotiating. Our Chicago employment attorneys will make sure you understand what you are signing, make revisions that protect your rights, and can help you negotiate a severance package that does justice to your effort and contribution to the company and provides adequate compensation for any legal claims you are waiving by signing the agreement.
Our Chicago employment lawyers work with you to review your tenure with your employer to find where you have leverage to improve your bargaining position. We go all the way back to your offer letter, examine your performance reviews, and catalogue any verbal or written communications that may have altered the terms of your employment to get a complete picture of your contribution to your company. We interview you thoroughly to discover where the company may have violated any of your state or federal protections, for instance, anti-discrimination or WARN Act violations. We do everything possible to secure the benefits due to you, such as paid vacation days, stock options and bonuses. Finally, we do what is necessary to protect your career. We renegotiate non-compete covenants to free your services and even advocate for specific language characterizing your termination and to be used in employment references.
For employers, our employment attorneys in Chicago work to negotiate fair severance and release agreements that protect company interests and can advise you when severance should be considered. Goldman & Ehrlich has the experience to balance equities properly with severance packages.
If you have questions regarding a severance package owed to you or one you must negotiate on behalf of your company for a departing employee, Goldman & Ehrlich can help. Call us at 312.332.6733 today or contact our Chicago office online.