Although separation agreements, sometimes called severance agreements, provide benefits for both employees and employers, they can also have some downsides for employees. Before accepting and signing a separation agreement, it is important to understand what you are signing, as the Agreement is a binding contract. If you are unsure of whether or not you should sign a separation agreement it is important that you speak with an Ohio employment lawyer who can review and discuss it with you.
If your employer is asking you to sign a separation agreement, it may be because they want to assist you in the transition to a new job. However, it may also be because they are trying to protect themselves from legal claims you may file against them after you leave. For example, many separation agreements state that if you file a discrimination claim against the employer with a governmental agency after you leave, you cannot collect any financial compensation if your claim is successful. An employee usually will be prohibited from filing a lawsuit against the employer for anything related to employment.
However, there are some benefits for employees that come with separation agreements, as well. For example, you will likely be offered a certain amount of compensation for wages. This is not a requirement under Ohio’s employment laws. You should also determine if you will receive payment for unused vacation, sick leave, and other Paid Time Off benefits.
An Ohio employment lawyer can review a separation agreement and determine if you are forfeiting protected rights.
Our Columbus employment lawyers know that experiencing a lay-off, a reduction in force, or voluntarily leaving a company and receiving a severance agreement can be overwhelming. We can help. If you have been asked to sign a separation agreement, we will review it with you to determine whether your rights are being upheld. If you need help with your separation agreement, call or contact us online today to schedule a meeting with one of our attorneys.
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