SEVERANCE PACKAGE SERVICE

If you have been handed a severance agreement by your employer, you need to make sure that the agreement protects your interests.  Typically, there are  two goals: (1) increase the value of the severance package, and (2) modify the language of the agreement so that it protects your interests. 

We can help you. 

Pricing

For an initial credit card payment of $500, we will review your severance agreement to protect your interests and negotiate an increase in the value of the severance package. 

We will charge you an additional $2500 on your credit card only if we are able to increase the monetary value of the current severance package by at least $3000.  Our goal is to obtain the largest possible severance package for you.     

How We Do It
 
First, we conduct a telephone interview to get the basic facts.  Then we send you an email that asks for more detailed information and the relevant documents.   Our staff then prepares a binder that contains all of your information and documents.  Our legal team then assesses the severance package and identifies the legal issues and points that can be improved to protect your interests.  We then contact the appropriate party at the company and negotiate the modifications to the severance package.   The negotiating process may take several days and sometimes longer.  It is sometimes necessary to extend the due date on the agreement. 

Call us at 866-571-5010 or Contact us online. 


The value of a severance package is fluid.  Typically, the amount initially offerred to an executive or employee can be enhanced.   Read the 8 Reasons Why Companies Offer Severance Pay below. 

THE 8 REASONS WHY COMPANY’S OFFER SEVERANCE PAY

Many companies consider the following seven factors when creating a severance package for a departing executive.

1.  SMOOTH TRANSITION  -  Company’s want to focus on their business and not get distracted by employment disputes.   Severance packages are provided to facilitate a smooth transition and avoid disputes.   There is no legal requirement to provide a severance package. 

2.  REASON FOR THE DISMISSAL – If the termination is the result of an economic slow down, reorganization or other circumstance beyond the executive’s control, the severance package may be more generous.  If the dismissal is the result of poor or marginal performance, the package will be minimal or non-existent.  

3. AGE -  Older and more senior executives often require more time to find a comparable position.  Therefore some companies provide a slightly larger severance payment for older executives.  Also, larger severance offers are sometimes designed to deter age discrimination suits.

4. FAMILY -  There was a time when an executive’s family situation would be considered.  If an executive had a large dependent family, some companies would factor that into the severance calculation. 

5. POSITION -   Companies feel a greater obligation to offer generous severance packages to executives holding high level positions.  

6. SENIORITY -  Most severance packages are based on a formula that credits the executive for their years of service.   The amount of the severance package is often directly linked to the number of years that the executive worked for the company.

7. FINANCIAL HEALTH OF THE COMPANY – There is no hard and fast rule here.   Sometimes the largest and healthiest companies are the most stingy – [that is why they are rich].   Some smaller and less profitable companies, on the other hand, will provide very generous severance packages.  However, large and established companies tend to provide better severance packages.

8.  LEVERAGE  -  The key to obtaining an excellent severance package is leverage.  If the executive has strong contacts or relationships that are valuable to the company, the company may offer a large severance package to preserve a strong relationship with the executive.   Also, if the executive has information that is valuable to the company or which could be harmful if released to the public, the  company will pay a premium for confidentiality.  Finally, if the company discriminated against the executive or otherwise violated their rights, the company may enhance the severance package to avoid litigation.

For more information on Severance Packages, see below.