Yes, in most cases. Here too, it all depends on the language of the agreement and the circumstances in which it was signed, but a severance agreement that meets fundamental criteria can certainly be applicable in Texas. When an employee signs a severance agreement, this is usually accompanied by an unblocking or waiver that waives your right to sue the company. If you received a compensation package without signing a waiver or release, you can sue your employer. You are probably stuck in the fact that you have given up your rights. This is the difficult part of severance agreements, you have to make a decision on waiving potential legal rights based solely on what you know at the end of your employment. There really is no meaningful opportunity to do a full review, so it is a risk assessment. This is another reason why consulting a competent work lawyer can be helpful before signing it – his experience can really go down the road to determine the likelihood that there will be a claim if you had access to all the information you had to check first. This way, if you decide to sign it, you may be more at peace with the decision. It usually costs about an hour of the lawyer`s time, 350 $US. We insert them remotely, check your severance agreement and all other relevant documents, and we hold a 45-minute conference call: no, unless there is a specific agreement on this. This is usually done in certain sectors and/or in certain circumstances, but at the end of the day, it is simply a voluntary “deal” between the company and the outgoing employee. The company basically says, “We`re paying you X dollars, if you like, one way or another.” And when the employee says “OK,” both parties have an agreement.
If the company decides not to make the offer, they save the severance pay, but they take the risk of being sued if you have a claim against the company. Part of running a business is managing the employee separation process. Managing this process can be as important as the day-to-day responsibility of staff. When employees leave your organization, it is often advantageous for the outgoing employee to sign a severance agreement. An agreement that properly identifies the expectations of employers and workers will save considerable time, money and headaches in the near and distant future. If your goal is for outgoing employees to sign severance agreements, it is important to remember that there is no requirement for this. If you draft a severance agreement that is concise and clear and requires fair consideration, you increase your chances of it being signed. I don`t know. It is their choice of trade policy. The goal of the average company with severance pay is to offer just enough money to encourage you to sign it. Some are perhaps more charitable – it is only the dynamism and culture of the company and its management – and perhaps the financial health of the company at the time.