Severance Packages & Your Rights
Upon the termination or conclusion of employment, an employee may be offered severance pay. Severance pay may be offered as compensation for an employee’s contributions to the company, but is more often offered as a way for a company to protect itself from a former employee engaging in certain actions or conduct that could harm the company. Severance pay is often granted pursuant to a separation agreement, which governs both parties conduct in the event that an employee leaves or is terminated. Some of the terms that are often found in separation agreements include the following:
- Severance pay
- Non-disclosure of trade secrets
- Clauses prohibiting former employees filing suit against the employer
- Clauses prohibiting former employees from filing regulatory complaints
- Non-compete clauses
In LA, severance packages often impose significant limitations on what a person may or may not do after employment. As a result, it is important for anyone entering into a separation agreement that includes a severance pay provision to consult with an experienced Los Angeles employment law attorney. A separation agreement that seeks to limit your post-employment rights should not be entered into lightly, and you should be certain to have its terms reviewed by a lawyer. The attorneys at HKM Employment Attorneys are knowledgeable and skilled employment law attorneys who can help ensure that any separation agreement into which you enter is in your best interests. In addition, we can help you negotiate the terms of your separation agreement to make sure you are getting the compensation you deserve.
Employment Lawyer Serving Los Angeles, California
HKM Employment Attorneys serve a diverse group of clients, including employees, employers, Fortune 500 companies, small businesses, and government agencies. We understand that each client’s situation is unique, and provide solution-oriented and individualized counsel to each client we represent. Our firm has almost 4 decades of combined experience in all facets of employment law, and is recognized as a premier Los Angeles, California employment law firm.
For assistance with any matter relating to a severance package as an employee or an employer, contact an LA employment lawyer at HKM today.