Upon termination of an executive's employment, an employer will often offer a severance package, typically in exchange for a release of claims against the employer.
Typically, the employers' counsel will prepare the initial draft of the agreement and present the agreement to the executive. This draft is typically one-sided, and will not represent the executive's best interests. 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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