A Business & Banking Law Firm
For Businesses – Business Organizations and Transactions
Employment Severance and Non-Compete Negotiations
The termination of an employment relationship often is fraught with risk and indecision. In many cases, especially when making a difficult decision to terminate the employment of an executive-level employee, companies make a business decision to offer severance benefits in return for a release of claims and/or an agreement not to compete from the executive employee.
There are critical components to a severance agreement, without which even an agreement signed by the employee may not be enforceable against the employee. Business clients require legal counsel to ensure that the agreements they provide to their terminated employees will be upheld by the courts.
On the executive employee side, the Firm assists terminated executives in analyzing and negotiating their severance terms and agreements. A company-provided severance agreement generally allows the executive 21 days to review the agreement, recommends review with counsel and allows revocation of the agreement within 7 days after execution. These time periods are critical, and the Firm stands ready to assist its executive clients in meeting them.
Maselli, Mills & Fornal, P.C. represents business and executive employees in the negotiation and preparation of employment severance and non-compete agreements.