Important Factors to Consider when Negotiating Severance Packages in Tennessee
Sometimes employees and employers terminate their work agreement. This can be for a variety of reasons, not just for a job that was poorly performed. If you or someone you know finds that you are in a situation where you are asked to part ways with your employer, there are important things you should know and consider when negotiating severance Packages with the business or your employer. Negotiating severance packages can be difficult and if you find that you have questions or need help, it is important that you talk to a Tennessee severance negotiation lawyer immediately. They will hear your case and help answer any questions you have to help make sure you get the pay you deserve for your situation.
The first factor that you should consider when negotiating you severance package is that not all pay is just monetary. Benefits such as medical insurance, life insurance, bonuses you may have been up for, and unused vacation and sick days may also be up for negotiation. You should also consider negotiating to get packages such as pension, 401K, and stock options vested. If it is stock options, you typically will have ninety days to use them and you may be able to negotiating an extension to this.
Another factor to consider when negotiating severance packages is to avoid non-competes and waivers. Non compete agreements will lower the amount of companies you are allowed to work for in the future which is not good if you are laid off or lose your job. If you sign a waiver, you are giving up your legal rights to take action against the company if you were fired due to discrimination. The final and perhaps the most important factor to consider when negotiating severance packages is to have a Tennessee employment severance package negotiation attorney help you with the process. They can help you to understand the documents you may be asked to sign. They can also make you aware of your legal rights and options when handling negotiations and help you to negotiate the best severance package for your needs.
If you feel that your employment at your current workplace may be coming to an end or feel that your rights have not been upheld, we strongly suggest that you contact one of our experienced and compassionate Tennessee severance package negotiation attorneys at the Higgins Firm as soon as possible. We care about our clients will hear your case, help you review your options, and help answer any questions you may have to help see to it that you receive the best severance package for your particular situation and for your future.
Contact us online or call us at 800.705.2121 to set up a FREE consultation to discuss your legal options.
Author Bio
Jim Higgins, founder of the Higgins Firm, is a seasoned personal injury attorney with deep roots in Nashville, Tennessee. A 4th generation Nashvillian, Jim carries on the legal legacy of his father, a judge for over 30 years. After graduating from the University of Memphis School of Law, Jim’s career began on the other side of the courtroom, defending insurance companies and learning their tactics for minimizing settlements. However, he soon realized his true calling was fighting for the rights of the injured, and for the past several years, he has exclusively represented plaintiffs in personal injury cases.
Since then, his dedication and skill have earned him membership in the prestigious Million Dollar Advocates Forum, an organization limited to attorneys who have secured million and multi-million dollar verdicts and settlements for their clients. Licensed to practice in Tennessee, Kentucky, and Georgia, Jim focuses on personal injury, product liability, medical malpractice, and workers’ compensation cases. His exceptional work has been recognized by his peers, earning him a spot on the Super Lawyers list from 2021 to 2024, a distinction awarded to only a select group of accomplished attorneys in each state.
