What to Know About Employee Contracts and Severance Agreements in the Metro New York Area

 Posted on December 01, 2022 in Business Law

Whether you are starting a new role at a company or finishing time with your current employer, there is a good chance that you will be presented with an employee contract or severance agreement. Often, these papers may look deceivingly straightforward - so straightforward that you may feel inclined to sign the papers right then and there. 

If you are presented with an employee contract or severance agreement, contact a knowledgeable New York metro area attorney with experience in employee contracts and severance agreements. Doing this will ensure that you know what you are signing and that whatever you are signing is in your best interest.

Why Hiring a Skillful Contract Attorney is Advisable 

Notably, severance agreements refer to a contract an employee may be asked to sign when dismissed from a job. Contract terms will likely include pay and benefits the employee is entitled to once that employer no longer employs them. By hiring an attorney when you are presented with employee contracts or severance agreements, you will absolve yourself from hastily signing documents that, unbeknownst to you, may have a significant impact on your professional future. Other considerations you should include the following:

• Well-defined procedures for resolving workplace issues – When reviewing a contract for a new employee, it is essential to make sure you fully understand your commitments to your employer. With an experienced attorney, you can ensure that you understand these things and are prepared with a course of action in case any questions or concerns arise. 

• Considerations for future potential employment – Your lawyer may be able to negotiate terms that will confirm your employer will be willing to provide you with positive employee references for when you begin your new job search.

• Compensation concerns – If you are leaving a job, you may be owed more compensation than is being presented by your employer. Sometimes, the amount you are owed may exceed the amount specified in your employee contract. For example, it is possible to have collected unused vacation time, paid time off, or other expenditures that must be reimbursed. An experienced attorney will make sure you are compensated appropriately. 

• Understanding non-compete and confidentiality agreements – Before you sign any papers, you must understand any limitations to which you are agreeing. These restrictions may affect future earnings and your ability to correspond with loved ones and previous colleagues. 

Contact a Metro New York Area Employee Contract Attorney

Make sure to consult with a knowledgeable attorney before signing important employment-related documents. Contact the experienced Greenwich employee contract lawyers with Ivey, Barnum & O'Mara, LLC. Call 203-661-6000 today for a free consultation.

Source: https://www.cnn.com/2022/11/08/success/layoffs-advance-notice-severance-packages-ctrp/index.html