Severance Package Negotiations
Definition:
A severance package is the pay and benefits that an employee gets when they are no longer employed by that company. They are usually offered for employees who get laid off or retire. Severance packages can be given to employees who resign or get fired. A severance package includes regular pay and the following:
- Payment for vacation time or sick leave if unused
- Payment of the required notice period
- Insurance such as medical, dental or life
- Retirement benefits
- Assistance finding employment or help in creating a resume for employment
Consequences of Severance Package Negotiations:
If you are an employer who is not satisfied with the severance package your employer offers you, you may ask for more. You can go through severance package negotiations in order to ensure fair pay and benefits. You may be able to negotiate a better severance package offer if the reasons for your dismissal are unusual.What a Lawyer can do for you:
If a severance package negotiation goes bad and you are unable to negotiate on your own, you may need a severance lawyer to assist you. Since lots of money is at stake, it may be difficult to patiently and justly negotiate with your employer. A severance lawyer is especially helpful if your employer asks you to sign a release of your claims in return for severance. A severance lawyer can also he helpful if you need to seek advice on how to deal with your severance package negotiation or if you need him / her to negotiate for you for a better agreement.Lawyer Referral Service:
If you want legal assistance with your severance package negotiation, Attorney Search Network can refer you to a highly qualified severance package lawyer.
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