What Can I Ask for When I’m Negotiating a Severance Package?

Employees who receive a severance package should have the document reviewed by an attorney to ensure they understand what they are signing. They can also seek to have the package improved. In doing so, may employees ask for some or all of the below:

• Additional severance
• Payment of severance over time or in lump sum depending on what is more beneficial for the employee
• Health benefit continuation for themselves and family
• Bonus or pro rata bonus
• Accelerated vesting of options/equity
• Return of their personal property
• Outplacement assistance or money in lieu of outplacement
• References or a departure statement
• Mutual release
• Mutual non-disparagement
• Release from, or limitations on, non-compete or non-solicit provisions
• Expense reimbursement
• Removal of any mitigation of severance offer language
• Modification of the agreement language

For more information about your rights and options and to determine how you may request some or all of the above items, contact Sheree Donath to schedule a consultation.

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