Wilkinson Law Firm
Business And Employment Law In Tulsa And Beyond

Protect Your Rights When Considering A Severance Agreement

When you end an employment relationship, you want to make sure both sides walk away confident about the future. One way to do that is through a severance agreement. Severance agreements lay out terms for an employee to leave, often including a payment or some other benefit. In exchange, the employee usually agrees not to sue the employer in the future, and may agree to other conditions, as well. Most important, the severance package may restrict the employees future job possibilities.

At Wilkinson Law Firm, we have been helping employees and employers with legal issues for over 40 years. Let us help you with drafting or reviewing a severance agreement to make sure that it protects your legal rights and future goals. We serve clients in the Tulsa area and throughout Oklahoma.

What Should You Look For In A Severance Package?

Too often, we find that people focus only on the amount of severance pay included in a package, without looking at the rest of the agreement. The terms of a severance agreement can have serious effects on both the employer and the employee. We help clients examine the following issues related to severance packages:

  • Terms beyond severance pay- Many people get hung up on the payment amount and forget to look at other benefits or terms included in the package.
  • Effect on your future employment- The agreement may include restrictive covenants. Does it limit where you can work or who you can work for? Does it limit the type of work you can do?
  • The legal release- Most severance packages include an agreement that the employee will not sue the employer in the future. Both sides need to make sure they thoroughly understand this agreement. The waiver of the right to sue can be very valuable and should be considered carefully.

A Good Lawyer Adds Value To Your Severance Agreement

Severance packages are complicated matters. Oklahoma law regulates what you can and cannot include. These laws can be complex and require an experienced employment law attorney to interpret. Failure to understand these laws can set you up for more problems down the road.

In addition, no two severance packages are alike because every employment situation is unique. What worked for your neighbor or friend may not be right for you. A good employment law attorney will review your situation and give personal advice tailored for your goals for your future beyond this agreement. Too many people enter these agreements focused on their short-term goal of ending the employment relationship without considering their future. Make sure your severance package works in your favor.

Call To Schedule An Appointment Today

Wilkinson Law Firm is ready to answer your severance agreement questions. Call 918-921-5968 to schedule an appointment or complete our online form.

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