Hi, Chris Wilms here from Hopler, Wilms & Hanna. As attorneys in the RTP area, of course we heard about the massive layoff affecting our families, friends, and neighbors. We thought it might be a good idea to talk about severance agreements, something that might affect our local Raleigh and Durham residents.
When you think of severance agreements, it’s not a gift. It’s something you’re being offered in exchange for something. It’s important to know what you’re getting from your former employer, but it’s equally important to know what you’re giving up. Are you giving up any potential claims you might have? Are you agreeing not to compete against the company for a period?
Are you agreeing not to talk about the company in your memoirs one day? Do you know what the penalties are if you break the agreement later?
If you’re faced with a severance agreement and need help understanding it or negotiating it, give us a call. We’re happy to help you understand what you’re signing. Visit us online at https://hoplerwilms.com.