The attorneys at Chicago's Nolan Law Office have extensive experience evaluating and negotiating severance agreements on behalf of employees and executives. Severance or separation agreements are often presented to professionals or executive employees upon their separation from the employer. The severance agreement typically provides the departing employee with financial compensation for a period of time in exchange for the employee’s waiver and release of all claims against the company.
While a severance payment may provide some financial security during a time of transition, the agreements also typically require the employees to give up important legal rights such as the right to pursue legal action against the company. In many cases, Illinois employees may not understand all of the legal rights available to them under state and federal law, including whether they have an actionable claim against their employer for wrongful conduct. As a result, it is critically important that departing employees consult with an experienced Illinois employment lawyer before signing the agreement and releasing their rights.
In addition, severance agreements sometimes include post-employment restrictive covenants like non-competition, non-solicitation, and confidentiality provisions. These provisions may have lasting impacts on both the employee’s search for new employment and the employee’s next job. Employees who are presented with a severance or separation agreement containing post-employment restrictions should consult the experienced Chicago employment lawyers at the Nolan Law Office about what effect the provisions may have on their future employment.
After years of experience advising clients in the midst of workplace separations, the Chicago employment attorneys of the Nolan Law Office have the experience necessary to leverage your rights and achieve the best severance payment possible under the circumstances. In some cases, this may mean advising you while you negotiate with your employer directly. Other times, our attorneys may negotiate on your behalf in an effort to obtain a better severance payment. Contact the attorneys at the Nolan Law Office regarding your severance agreement today.
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