Executive Severance Agreement Review: What You Need to Know

 Columbus, Ohio Severance Review Lawyers — Helping Executives Move On In the Best Position for the Future

Severance agreements can be complex, often including restrictive covenants and executive non-compete clauses. It’s crucial to ensure that your severance package addresses all aspects of executive compensation, including bonuses, long-term incentive compensation, equity, stock options, and RSUs. To fully understand the terms and conditions in your executive severance package, consulting with an experienced employment lawyer is essential. Once signed, you typically cannot revoke your acceptance after a certain period.

Executive Severance Agreement

Why You Need an Executive Severance Lawyer

Before signing or negotiating a severance package, it’s vital to ensure you are getting what you deserve. Our Executive Severance Lawyers at Mansell Law review and find leverage to negotiate your severance to ensure you are fully and rightfully compensated for the transition period between jobs. We have reviewed thousands of severance packages and have extensive experience in severance negotiations.

Understanding Severance Agreements

A severance agreement contains promises from both parties and requires consideration, or an exchange of value. Our experienced Ohio employment lawyers can help ensure that any severance agreement fairly compensates you in exchange for the rights you may relinquish.

Severance packages are legally binding contracts outlining the rights and responsibilities of both the executive and the employer regarding the separation from employment. These agreements often include compensation, bonuses, equity, and conditions that could affect the package’s validity.

Key Elements of Severance Agreements

A severance agreement should offer compensation beyond what you are already entitled to, such as your final paycheck and compensation for accrued but unused paid leave. In exchange, you may be giving up certain rights, such as the right to sue your employer for discrimination, harassment, or wage violations. An experienced employment lawyer can negotiate on your behalf, demonstrating to your employer that you are serious about protecting yourself and understanding your value.

Your Rights Under the Older Workers Benefit Protection Act (OWBPA)

If you are over 40 years old, you are protected by the Older Workers Benefit Protection Act (OWBPA). This act prohibits discrimination and protects employees over the age of 40 who waive their right to sue for age discrimination. Under OWBPA, you have 21 days to decide whether to accept the severance if you are the only person being separated, or 45 days if the offer is made to a group of employees. You also have seven days to revoke the agreement after signing.

Seek Expert Assistance in Ohio

For help reviewing or negotiating a severance agreement in Ohio, contact Mansell Law at 614–610–4134. Our Columbus, Ohio employment attorneys are here to assist you.

#SeveranceAgreement #ExecutiveSeverance #EmploymentLaw #OhioLawyers #ColumbusLawyers #MansellLaw #EmploymentAttorney #SeveranceNegotiation #ExecutiveCompensation #LegalAdvice

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