What Happens If You Don`t Sign A Severance Agreement

If you are invited to sign a non-competitive or confidential information agreement, please understand that your signature will limit your future employment prospects and even your future entrepreneurial activities. You are the only one who knows if you are probably in a competitive position with your former employer. All you know is that non-competition and confidentiality agreements are extremely valuable and are probably worth more than a month`s salary. Ask for more if you think you can continue to work without violating the agreement. If you think you can`t find a job or start your own business, you should “absorb” the loss of a few months` salary in exchange for maintaining your freedom of action after employment. Legal advice in today`s legal market is not as steep as you think. Lawyers who specialize in labor law (I have and never have) know the law in the state where they practice as the other side of their hand. The interview with an emergency lawyer is free and you will have a good idea of your rights and the terms of a termination agreement, even if the lawyer does not accept your case. If you prefer to pay a lawyer to verify the entire agreement in light of your industry, length of employment, status and likelihood of your ability to find a new job, apply for a package ($500 outside major urban centres) or limit the lawyer`s commitment to a certain number of hours (somewhere between two and five). You`ve just been introduced with a package of severance pay, but you keep the brass ring of all-time job war stories. You intend to expose your employer, and you are very excited.

Undoubtedly, you think you have the biggest case in the world. You will then discover that the severance agreement contains an iron confidentiality clause that prohibits you, your wife, your children and your parents from ever telling your big story about colossal corporate misconduct. If you accept the confidentiality clause and later violate the disclosure provision, you risk the company withdrawing all severance pay and being sued by the company.