New Jersey & Pennsylvania Severance Package Negotiation Attorneys
With Offices in Mercer County, NJ & Bucks County, PA
When an employee is laid off, they may be in need of financial assistance as they attempt to bridge the gap between jobs. A favorable severance package can help the worker while they transition to a new job. The same is true for employees who retire and may need some extra financial help in order to make ends meet. A solid severance package can offer you some security and function as an important financial cushion while you look for work in an uncertain labor market.
The experienced employment law attorneys at Kamensky Cohen & Riechelson can review your employment contract and determine if you are due to receive the best possible severance package in the event that your employment ends. We’ve handled employment law matters relating to severance packages throughout New Jersey and Pennsylvania. Our legal team also includes skilled negotiators who know how to effectively negotiate with employers so that you receive maximum benefits.
What Should Be Included in a Severance Package?
A severance package provides pay and benefits for an employee who leaves the company, whether that’s because the employee was laid off or elected to retire. In some instances, a company might offer a severance package to an employee who is fired or who voluntarily decides to leave the company prior to retirement.
There are certain things that can be included in a severance package, such as:
- Clear language concerning the circumstances that will trigger eligibility for severance
- Payment based on the length of time the employee served the company
- Payment based on the employee’s contributions to the company
- Retirement benefits
- Stock options
- Assistance finding new employment
How Can an Attorney Help with Your Severance Package?
If you are negotiating an agreement prior to starting employment, you should speak with an experienced employment law attorney and determine if you can include a favorable severance package in the agreement.
If you are fired or laid off from your job, you might think it is cut and dry that you are entitled to the severance package that was negotiated for and included in your employment agreement. However, a number of severance pay issues often arise anytime a worker is terminated. An experienced employment law attorney can help you in a number of ways, including:
- Severance pay negotiations – The negotiations process is fluid and can require a great deal of flexibility by all parties. We will work proactively and use advanced negotiation strategies to help you obtain a favorable severance package. For example, if we determine you are entitled to unemployment benefits or if you were a victim of discrimination on the job, we may have leverage when negotiating with the employer for severance pay.
- Legal severance reviews – Your employer may contest your eligibility for a severance package by claiming you did not meet the requirements set forth in your employment contract. A knowledgeable employment law attorney can review your employment agreement to determine whether you qualify for compensation.
- Preserving your right to sue – Employers often require the fired worker to sign a separation agreement in order to receive a severance package. However, this agreement usually releases the employer from all liability and requires the worker to give up their right to file any legal claims against the employer. Prior to signing this document and surrendering your legal rights, it is imperative that you speak with an experienced employment law attorney.
Call for a Free Evaluation of Your NJ or PA Severance Package
A severance package can really soften the blow of suddenly losing your job. Many times, a severance package is necessary to keep you and your family afloat. You need to do everything in your power to ensure that you are protected in the event you are laid off. That’s why it’s absolutely vital that you speak with an experienced lawyer before, during, or after your employment. Do not sign away your legal rights without being fully informed about your severance agreement.
Whether you are about to start a new job or you’ve recently been laid off, Kamensky Cohen & Riechelson can protect your legal rights and help get you the best possible severance package. We’ve drafted and negotiated severance agreements throughout New Jersey and Pennsylvania, so we know how to review your contract to ensure that you receive the most favorable terms.