Executive Compensation Attorney Columbus, Ohio
The executive compensation attorneys in Columbus, Ohio review severance agreements for executives and negotiate the terms of severance agreements to ensure that your agreement addresses all of the most important aspects of your employment. Additionally, if you have been released from your position recently and your employer has offered you a severance agreement, it is extremely important to have the agreement reviewed by an attorney.
There are a number of businesses that will provide a severance agreement of some kind to executives, managers, and other employees upon their termination.
Employees have the right and ability to accept, decline, or even negotiate the severance package that is offered. We highly recommend working with a Columbus executive employment agreement attorney to review your severance agreement and determine whether the terms are favorable to you. If they are not, our firm can get involved to attempt to negotiate the terms of your separation. We often review executive severance agreements for our clients in Columbus, OH and throughout the state.
With expert knowledge and understanding of executive severance agreements in Ohio, The Friedmann Firm is here to help you understand your proposed severance agreement and negotiate the terms of that severance agreement as needed.
Executive Severance Agreement Attorneys in Columbus
With our focus solely on employment law, The Friedmann Firm understands important legal documents like executive severance agreements. We can review your severance agreement with you and explain the terms, along with making recommendations for edits.
This process includes explaining what kind of rights you may be giving up by signing a severance agreement, as some agreements may hinder your ability to pursue new work because of the inclusion of a non-compete agreement. Most, if not all, severance agreements also require you to waive the majority of your legal claims against your former employer in exchange for accepting the severance.
Our executive severance agreement attorneys in Columbus, Ohio can assist with negotiating the terms of your severance agreement, including any non-compete provisions included in your employer’s proposed severance agreement.
While some employers offer severance to employees that have been terminated or have been let go for any other reason, it is important to note that employers are not legally required to offer severance unless an employment contract specifically says that an employer must offer severance upon the employee’s departure.
If you and your employer have entered into a contract that requires it to offer you a severance package and it has not, contact one of our executive severance attorneys today. We can help ensure that your employer is adhering to your contract and the legal obligations within it.
What Can Our CEO Severance Agreement Lawyers in Columbus, Ohio Do for You?
- Negotiate the amount of severance pay that was offered to you;
- Negotiate all terms of the severance agreement, including extended health insurance benefits, neutral reference, outplacement assistance programs, profit-sharing options, and stock options;
- Explain details and provisions of the agreement to ensure that you have a full understanding of what you are giving up in order to accept the severance agreement.
What are Executive Compensation Contracts?
An executive compensation contract is a contract between a company or business and an executive employee. These agreements outline important details like:
- Base compensation
- Benefits such as health, vision, and dental insurance
- Stock options
- Performance expectations
- Role expectations
- Agreement to pay severance, if applicable
- Non-compete and non-solicitation agreements
- Arbitration agreements.
An agreement to pay severance in an employment contract becomes relevant if you are let go from your position and the employer must pay you severance pursuant to your executive employment agreement.
A pre-negotiated severance is something that an employer and employee agree to prior to the employee beginning to work for the employer. Occasionally, these terms can be negotiated when someone is currently employed as well but must always be memorialized in a contract and both parties must agree to the terms.
These provisions will be present in your employment contract and your contract will dictate when an employer must pay severance if you are terminated, you resign or you are let go for some reason outside of your control.
Before signing a pre-negotiated severance agreement, it can be important to review the terms with a Columbus executive compensation attorney because you will need to understand when severance would be paid and what situations would entitle you to be paid severance upon your departure from your employer.
End of Employment Severance
End-of-employment severance, also known as severance packages, are agreements that are offered by an employer at the time of termination or after termination.
This type of severance is negotiated at the time of termination or subsequent to the termination. This type of severance is not included in an employment contract and must actively be negotiated by the employee and counsel under most circumstances.
Contact Us Today to Speak with an Experienced Executive Severance Agreement Lawyer in Ohio
When considering whether to sign an executive severance agreement, it is important to have a trusted executive severance agreement lawyer in Ohio look over any agreement you are offered before you sign it. Not only can we help make sure that you fully understand what it is you are signing, we can help negotiate your severance agreement to ensure that it contains the most favorable terms for you.
We can also discuss the circumstances surrounding your termination to determine if you may have been unlawfully terminated. In some cases, even if you are offered severance pay, you may find that some of the circumstances surrounding your termination are potentially unlawful or suspicious. In that case, we can assist you in requesting additional severance and attempt to negotiate the terms of that severance.
With offices based in Columbus, Cleveland, Toledo, Cincinnati, and elsewhere, Our executive compensation attorneys are happy to discuss the potential for severance pay if you are an executive or C-suite level employee.
To schedule a free and confidential consultation today with our top-rated Columbus executive severance agreement attorney, reach out to us online or over the phone at 614-610-9755.