NYC Termination Agreement Lawyer

Termination agreements, also known as severance agreements or separation agreements, are employment agreements that are designed to formalize the end of an employment relationship between an employer and an employee. While they can be mutually beneficial, termination agreements can also be complex and require careful consideration. 

Bashian & Papantoniou, P.C. is a leading employment law attorney for employees and businesses in Garden City, NY. We are dedicated to providing comprehensive legal services to both employers and employees in matters related to employment law. With the advent of technology and the ever-evolving workplace dynamics, we understand the importance of staying up-to-date with the latest legal developments. 

Call Bashian & Papantoniou, P.C., today at (516) 447-3148 or contact us online to schedule a free consultation with our employment termination agreements lawyer in NYC.

What is a Termination Agreement?

A termination agreement is a legally binding contract that outlines the terms and conditions under which an employee's employment will end. It serves to protect both the employer and the employee by establishing clear rights, responsibilities, and expectations during and after the separation.

Components of a Termination Agreement

Typically, a termination agreement includes provisions related to severance pay, benefits continuation, confidentiality, non-compete clauses, non-disparagement clauses, return of company property, and a release of claims.

Termination agreements often address the continuation of health insurance and other benefits, ensuring employees have time to transition and explore alternative coverage options.

Employers must adhere to federal and state laws regarding termination agreements, including those related to discrimination, minimum wage, and notice requirements.

Severance Pay & Termination

Severance pay is a key element in a termination agreement, providing financial support to the departing employee. Understanding the calculation, timing, and tax implications of severance pay is essential for both parties.

Confidentiality & Non-Disparagement

Confidentiality clauses protect a company's sensitive information, while non-disparagement clauses prevent both parties from making negative statements about one another.

Non-Compete & Non-Solicitation Clauses

These clauses may limit the employee's ability to work for competitors or solicit former colleagues or clients for a specified period after termination.

Release of Claims

By signing a release of claims, the departing employee agrees not to pursue legal action against the employer for issues related to their employment, such as discrimination or wrongful termination.

Contact Our NYC Termination Agreement Lawyers

Both employers and employees should carefully review the terms of the agreement. Negotiating specific clauses can lead to more favorable outcomes for both parties. Seeking legal counsel is crucial before signing a termination agreement. An experienced New York termination attorney can review the document, ensure its fairness, and protect your rights throughout the process.

If you have any questions or require legal assistance with an employment law matter, don't hesitate to reach out to us. You can schedule a consultation by calling (516) 447-3148 or by filling out the contact form on our website. We are here to provide you with the expert legal guidance you need.

Call Bashian & Papantoniou, P.C., today at (516) 447-3148 or contact us online to schedule a free consultation with our employment termination agreements lawyer in NYC.