Understanding Your Exit Strategy
Navigating the negotiation of separating from your employer can be complex and challenging:
- Inadequate Severance Pay: There may be situations where you can negotiate a higher severance pay.
- Non-Compete or Non-Solicitation Clauses: Severance agreements might include restrictive non-compete clauses that could limit your future employment opportunities, or non-solicitation clauses that limit your ability to contact former colleagues, clients, or contractors.
- Waivers of Legal Claims: Employers may require you to waive your rights to pursue legal claims or file complaints in exchange for severance.
- Unclear Terms: Ambiguous language in the agreement can lead to misunderstandings regarding the specifics of your severance package.
- Benefits Continuation: Issues may arise concerning the continuation of health insurance and other benefits after your departure.
- References and Non-Disparagement Clauses: You may want to negotiate clauses about references or statements that could affect your professional reputation.
- Unemployment Insurance Benefits: Depending on the reasons for termination, you may want to negotiate with your employer that they will not contest your application for unemployment insurance benefits, which are administered by the state you worked in.
- Reduction-in-force (RIF): Group terminations may trigger certain requirements by your employer under federal and state laws.
Spotting these potential issues and addressing them proactively can help you negotiate a more favorable separation agreement. D’Andrea Law PLLC can help.