In fact, there are four main scenarios that can lead to separating a worker from his employer: beware: different states can (and do) have different laws on separation and release agreements. Therefore, relevant government legislation should be thoroughly researched before entering into a separation and release agreement. Legislation in this area is evolving rapidly and gives the worker additional legal protection. Comparison with federal law: under federal law (The Protection of the Elderly Act 1990), only workers aged 40 and over must think in writing about signing a separation and release agreement for 21 days (or 45 days to consider whether it is a „group authorization“ – that is, two or more employees have been dismissed simultaneously by the same decision unit). But the negotiations probably seem intimidating, don`t they? The former employer is also willing to negotiate because he has lawyers who can dig his heels and establish a front. It is tempting to just take the agreement, sign the release form and hope for the best. But it is extremely valuable to bring a compensation agreement to a lawyer, especially a lawyer who has experience with them. Severance agreements can be difficult to understand, but a lawyer can explain in plain English what an agreement contains and inform the employee of what is going on more about what might help the negotiations. Our Chicago-based firm (based in Naperville, Illinois) has extensive experience in assisting clients in the development, verification and negotiation of severance agreements, both of the employee`s position and the employer`s position. Our firm will help our clients ensure that severance agreements are adequate and sufficient. The worker gives an employee a termination agreement during his employment, accompanied by an invitation for the worker to accept the dismissal and voluntarily withdraw from his employment relationship.
For the employee, the objectives are likely to maximize the amount of money he receives as part of the severance pay, to receive all the benefits to which he is entitled and to ensure that his subsequent job search is not hindered by dismissal. However, the ultimate goal for both parties should be to reach a fair and equitable agreement that would provide adequate protection for both parties.