Executive Severance Negotiations Lawyer | Employment Lawyer Columbus OH

 Need an experienced executive severance negotiations lawyer in Columbus, OH Look no further. Our employment lawyers are here to protect your rights and negotiate.

WHAT IS AN SEVERANCE PACKAGE?

A executive severance package typically consists of a document or group of documents that offers you a benefit to which you are not otherwise entitled in exchange for something. Generally, a severance package provides an offer of severance pay and additional benefits. These could include COBRA coverage or outplacement services, for example. In exchange for these benefits, you are typically agreeing to waive your right to pursue legal claims against the company, with a few exceptions. You may also be asked to agree to certain confidentiality and non-disparagement provisions.

ARE EMPLOYERS IN OHIO REQUIRED TO OFFER SEVERANCE PACKAGES?

No, Ohio law does not require employers to provide severance packages upon termination of employment. However, if you entered into an employment agreement that provides for severance pay upon separation, then your employer may be contractually obligated to provide a severance in accordance with the terms of your agreement.

WHAT IS A TYPICAL SEVERANCE AMOUNT?

There is no specific formula or “standard” amount of severance. Employers’ severance offers depend on a number of factors, including, but not limited to size of the business; length of your employment; your position in the company; whether the termination was part of a larger reduction in force; and the particular circumstances of your termination; among other things. Consulting with an attorney can help you understand whether the severance package offered to you is equitable and fair in light of all circumstances of your particular situation.

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