Generally, upon termination of an executive's employment an employer will offer a severance package, typically in exchange for a release of claims against the employer.

Often, the employers' counsel will prepare the initial draft of the agreement. This draft is typically one-sided, and does not represent the executive's best interest. It is important to either preempt the employer by having your lawyer prepare the initial draft, or have your lawyer thoroughly review and edit the initial draft. It is important to remember that by allowing the employer's lawyer to draft the document, you are ceding control over the timing of the document and this may cause unwanted delays.

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