A lot of lawyers will answer the question along the lines of “Yes, absolutely.” But this may be self-serving jib-jab.
In fact, your decision whether to hire an attorney should always be a function of your specific circumstances. That sounds cliche, but it is important. In fact, although my prospective clients sometimes do not want to hear this, as with so many other areas of the law, the right answer to the headlined question is, “It depends.”
As a rule, if you are being asked to sign an employment contract or severance agreement, it should be reviewed by an employment attorney. There may be more at stake than is apparent, as there are “traps for the unwary.” This is true even where the employer is acting in good faith and your discussions are on good terms. Beyond this, the decision whether to hire an attorney starts with considering what is at stake for you and your family, and the complexity of your situation.
For example, employment agreements may address health insurance benefits, the scope and duration of your employment, grounds for termination, and confidentiality issues. Employment agreements may also contain restrictive covenants, such as non-competes, that limit the employee’s ability to earn a living following termination. Some of these issues may seem unimportant when the employee is ready to accept a new position but can create practical problems, if not serious headaches, later if not reviewed and, if necessary, addressed.
Severance agreements likewise can address many issues, e.g., Restricted Stock Units and Performance Stock Units (e.g., accelerated vesting), healthcare coverage, and non-disparagement provisions. They can also contain other restrictive covenants or address, for example, confidentiality and assignment of inventions. Provisions such as these should likewise be reviewed and, if necessary, addressed.
In some situations, employees may want the employer to consider revising or supplementing a proposed employment agreement or severance agreement.
The list of issues that can be affected by employment and severance agreements is long, and the importance of specific issues depends upon a client’s situation.
If you are facing an employment issue, you should always speak with a lawyer. But should you hire a lawyer? “It depends.”
For more information or a free consultation please, contact us.
Recent Comments