What Are the Basics to a Severance Agreement?
As an employee, there are several important things that you should look for in a separation agreement. Here are some key points to consider: Severance pay: The separation agreement should clearly state the amount of severance pay you will receive, as well as any conditions or restrictions on receiving it. Non-compete clauses: Check whether the agreement contains any non-compete clauses that could limit your future job prospects. These clauses typically prohibit you from working for a competitor for a certain period of time after leaving your current employer. Confidentiality clauses: Look for any clauses that require you to keep the terms of the separation agreement confidential, as well as any other confidential information you may have obtained during your employment. Release of claims: The agreement may include a release of claims clause, which means that you give up your right to sue your employer for any reasons related to your employment. Make sur
