A severance agreement can be an important part of negotiations involving employment. Many employees and employers in Colorado may stick to a standard severance agreement and not really understand how the severance negotiation process can help both sides and ensure fairness for all parties. Any severance negotiations should be reviewed by an experienced legal professional before either party signs, regardless of the relationship the parties have established.
For employees, signing without legal representation present can lead to a situation in which one signs an agreement that has a waiver clause. This kind of clause essentially states that the employee is waiving any right to review or revise the agreement after it has been signed. A negotiation can lead to the ability to revise the contract at a later time.
An employer can be making a mistake by not involving a skilled legal representative. The enforceability of an agreement may be questionable, and it may be difficult for an employer to follow through with consequences if the employee violates the agreement’s terms. Negotiating specific consequences and other protections is a must.
Because of the important of a severance agreement, it is wise for both employers and employees to have legal representation during severance negotiation. Colorado employers and employees owe it to themselves to protect their interests and financial security. Our firm has more information available online about the importance of severance agreements and severance negotiations so as to help both parties understand the process and how to ensure fairness for all.