In this video, we talk about severance agreements for coronavirus (COVID-19) related layoffs. Should you sign one if you are an employee? And should you offer your employees one as an employer?
Severance agreements will typically include pay in exchange for the employee waiving rights to sue the employer. A severance agreement must include the chance to review the agreement with an attorney of the employee’s choice, and may also require non-disclosure of trade secrets and non-disparagement of the employer. A period of “cooperation with the employer” is also frequently included.