While a severance package can seem very financially tempting when you are anticipating a substantial loss of income, it is of critical importance that you not rush into a severance agreement without first reviewing its contents with a skilled and experienced New Jersey severance package lawyer. As with any contract, failure to carefully and meticulously scrutinize every provision of the severance agreement could have negative repercussions for the employee of which he or she may be unaware absent review by an employment law attorney. In addition to preserving your legal rights, a severance package attorney may also be able to help you negotiate a better deal that increases compensation well above the level initially offered in the contract.
Separation pay is similar to severance pay in that it is compensation provided to an employee in the event of job loss. Like severance pay, separation pay may be made available in the event of job loss resulting from retirement or layoffs at the company. The core difference between a severance agreement and separation pay is that separation pay is generally a fixed amount, whereas severance pay is generally dependent upon how many years the employee worked at the company before losing his or her job.
North Jersey Severance Package and Employee Separation Attorneys
Separation or severance pay can help to provide financial support and stability while you are between jobs. Hiring a skilled employment law attorney in New Jersey can help to ensure that you receive the best deal possible, without losing critical rights under various employee protection laws. To discuss proposed separation pay or a severance package in a free and confidential legal consultation with an experienced business law attorney, contact the Law Offices of Usmaan Sleemi at (973) 453-4060.