When you’re let go from your job, you may be able to negotiate a severance agreement. If successful in doing so, you could receive compensation and benefits that can provide significant financial stability while you figure out the next chapter of your life. But you...
Under Florida law, severance agreements are optional. Upon termination, an employer has an obligation to pay all compensation its employee earned less lawful deductions. However, they do not have to offer additional severance pay. Even though severance pay costs a...
Mass layoffs or reductions in force (RIFs) require careful planning, particularly when drafting severance agreements. Employers must balance legal compliance, employee fairness, and the organization’s financial health. Following Florida’s legal requirements can help...
A severance agreement is a document that your employer may offer when your job ends. It typically includes payment and benefits in exchange for certain terms, like giving up the right to sue or agreeing not to disclose company information. While severance agreements...
Severance agreements can become complex when equity compensation and stock options factor in. Employees and employers must carefully navigate how to handle these assets during the termination process. Understanding what happens to equity compensation is key to a...
Facing a job loss can be stressful, and receiving a severance agreement adds another layer of complexity. It's crucial to understand that you have the option to negotiate your severance agreement before signing it. This step can ensure that you receive fair...
When employees leave a company, particularly in the case of termination or layoffs, it is common for their employers to provide severance packages. These often include health benefits and other perks. Knowing the tax responsibilities of severance pay is essential to...
When drafting and reviewing a severance agreement, both employers and employees have to ensure that its provisions comply with employment and contract laws. During the review process, parties usually thoroughly inquire into the validity of waivers in severance...
The provisions of severance agreements are usually drafted to protect employers. While some contract terms might not violate employee rights, other provisions may place an employee in a disadvantaged position. Understandably, not all employees are adept at reading and...
Going through a career transition after being laid off brings a lot of uncertainties. You cannot help but worry about your future after suddenly losing your job. There is a lot to think about that you might overlook a crucial step: reviewing the severance agreement....