Separation and severance agreements are contracts that generally outline what an employee can and cannot do after their employment ends. Severance agreements often contain clauses similar to those found in employment agreements such as non-compete and non-disclosure provisions in addition to those typically found in separation agreements such as a release of any and all claims an employee may have against an employer, as well as financial compensation for the employee signing the agreement. Unlike employment agreements which employment is typically contingent upon, a separation or “severance” agreement comes at the end of employment and requires additional consideration for the employee.
It is important to consult with an experienced employment attorney to ensure your interests are protected when drafting or negotiating a separation agreement. Contact Moosbrugger Law for a consultation.