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We provide severance legal counsel for employees across the country.

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Do you have any additional questions? Get in touch with our team of severance lawyers today to learn more and get started with your severance review.

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FAQs

Common Answers To Your Questions
  • How long do I have to sign the severance documents?

    When companies terminate employees and provide a severance package, the goal of the severance is to benefit both the company and the employee. Therefore, the employee has time to review the agreement. Review timelines depend on employee age and the number of people terminated simultaneously.

    • Employees under the age of 40 – No set time frame, but it must be reasonable and ample enough to review and understand the components.
    • Employees over the age of 40 – 21 days to review and sign and 7 days to reconsider and revoke your signature.
    • Multiple terminations at once – 45 days to review and sign and 7 days to reconsider and revoke your signature.
  • How is severance pay calculated?

    Several factors go into severance pay amounts. Employees in higher management positions may receive additional benefits like longer pay terms, office equipment, or medical benefits.

    Typical payouts can last up to 26 weeks and go by the following calculations:

    • Hourly Employees: Number of years with company X 1 week of regular pay = Severance Pay $ Total
    • Salaried Employees: Number of years with company X 2 weeks of regular pay = Severance Pay $ Total
  • Am I entitled to severance pay?

    No, most companies provide a severance agreement when they lay off or fire an employee. Offering a severance package is entirely optional for the company. Most companies only do it to protect themselves from future lawsuits, the employee going to a competitor company, or adverse claims from the employee. The company takes multiple factors into account when preparing the packages.