Dallas Employment Agreement and Severance Attorney.
Terminating employment of an at-will employee or those hired under a specific employment contract with a severance agreement should be a simple affair. A good severance package can be an effective tool to help facilitate successful departures and avoid claims or lawsuits later. Unfortunately, few business owners see the value, until they are neck deep in costly litigation.
At the Dallas, Texas, offices of Loya Law, we are dedicated to helping sole proprietors, partnerships and medium-sized corporations throughout Texas find practical and affordable solutions to their legal problems. Our skilled employment lawyers can help put together custom severance packages that can result in smoother terminations, protection of your rights, and allow you to accomplish your business objects.
While there is no law requiring an employer to offer severance packages, they are required to provide unemployment compensation, and COBRA benefits notification. If your company chooses to provide a severance plan to qualified employees, drafting a sound severance agreement is critical to avoiding problems later.
We can help you determine, draft and assemble a suitable severance package which addresses such important issues as:
- Final pay and other benefits
- Triggering events
- Non-compete agreements
- Release of rights (promise not to sue)
- Acceptance waiting period
Executive Compensation and Severance
Severance packages for directors, CEOs, board members, and other top executives warrant special attention to detail in order to protect a company from expensive lawsuits and threats to their position in the marketplace. We handle all aspects of the severance agreement that can include insurance benefits, stock options, commissions and bonuses, and restrictive covenants involving their exposure to strategies, resources and trade secrets.
While there are few circumstances where employers may be required to pay severance, a previous history of offering severance or inconsistent use can result in liability, from breach of contract claims to lawsuits for employment discrimination or retaliation. Our employment law services for smaller businesses can help your company avoid trouble before it begins.
A properly prepared severance package is a sound pre-emptive measure smaller businesses can use to avoid compensation and wrongful termination claims and lawsuits later. Contact us today to discuss your severance goals in a no-cost consultation.