Are you in need of a severance lawyer in Cleveland, Ohio and been offered a severance package? If so, we recommend that you have an experienced Cleveland Severance Lawyer assist you with the review of the agreement. Our office will have a Cleveland Severance Lawyer contact you to discuss the terms of the severance package, explain in detail what each section means, cover any areas that should be removed, modified or deleted, and will provide you with detailed changes that you can make to the severance agreement or severance package.
Our Cleveland Severance Lawyers are also available to assist you in the negotiation of you severance agreement with your employer. Often times employees believe that they are not able to negotiate the terms of the severance package. However, this is not true and a severance package can be negotiated like any other agreement. We can work with the employer to try and increase the amount of the severance being offered, change the terms of the agreement, reduce or delete any provision regarding non-competes or restrictive covenants and work on other benefits that may be important to you and your family, i.e. health care or COBRA payments.
Receiving a severance package can be very intimidating and scary since you are learning that you are losing your job and ability to help support your family. The amount being offered may not be sufficient to cover the gap in employment. We highly recommend that you speak with an experience Cleveland Severance Lawyer so that you are assured that you are protected.
Please remember that no agreement is standard and the employer has spent hours working on the severance agreement with their attorneys so that they are protected. You should do the same and speak with one of our Cleveland Severance Lawyers. We will be able to turn around the review and meeting/telephone conference call within 24 hours.
This law firm helped me achieve the results that I needed. Would recommend Paul to anyone that feels as though they have been wronged and need legal guidance and assistance.
- Al W.
"They gave my case all the time and attention that was needed to be successful."
My experience with Severance Lawyers was excellent. They gave my case all the time and attention that was needed to be successful. They were a calming and confident presence during a difficult and uncertain time for me. Their guidance was outstanding at all times, prompt, professional, timely and open for calls and quick updates. They invested the time to work through all of my questions and issues. I can’t thank them enough and would hire them again.
- Wendy G.
"From start to finish Tom was there to help me out every step of the way with our case."
Tom and his staff understand the law very well. They are quick to return calls, take the initiative, and explain things in a way I can understand. From start to finish Tom was there to help me out every step of the way with our case. I am glad to have Tom and his team on my side. I simply cannot thank them enough!
- Michelle M.
"Helped turn my lemons into lemonade."
I found myself in a challenging & stressful situation that required legal representation and their attorney Paul Castronovo handled it beyond my expectations. Paul is incredibly experienced/knowledgeable and I just felt like I was in good hands the entire time. Paul has a calming demeanor too–which is helpful in these stressful situations. Paul helped turn my lemons into lemonade.
- Tucker W.
"His confidence shined through instilling the confidence in me and peace of mind having him by my side."
Tom McKinney’s prompt attention, articulate and comprehensive advice addressed my Employment Agreement related issue. His confidence shined through instilling the confidence in me and peace of mind having him by my side. If you’re dealing with the proverbial ‘blood sucking’ company, look no further than Tom’s voice of reason.
- Sweta M.
"He was professional and knowledgeable in employment law."
Going to Tom and his team for my case was the best decision I made. He was professional and knowledgeable in employment law. He helped me reach a resolution and I could not recommend him enough for anyone else out there.
- Austin S.
"I have referred him to friends in NJ and NY."
Tom McKinney is one of the best attorneys that I know…whether to negotiate on your behalf or reviewing your agreement to make sure you are getting maximum value for your compensation. From stock options to deferred compensation. I have referred him to friends in NJ and NY.
- Sean C.
"Tom was prudent in having me use his services and I did not overpay when not needed."
I had Tom review my severance agreement. He provided a lot of valuable insight. I was able to go back to my employer with various points and double my package. Tom was prudent in having me use his services (told me to go back to my employer before fully engaging him) and I did not overpay when not needed. Other lawyers could have easily taken advantage of my situation and over-lawyered the situation.
How long do I have to sign the severance documents?
When companies terminate employees and provide a severance package, the goal of the severance is to benefit both the company and the employee. Therefore, the employee has time to review the agreement. Review timelines depend on employee age and the number of people terminated simultaneously.
Employees under the age of 40 – No set time frame, but it must be reasonable and ample enough to review and understand the components.
Employees over the age of 40 – 21 days to review and sign and 7 days to reconsider and revoke your signature.
Multiple terminations at once – 45 days to review and sign and 7 days to reconsider and revoke your signature.
How is severance pay calculated?
Several factors go into severance pay amounts. Employees in higher management positions may receive additional benefits like longer pay terms, office equipment, or medical benefits.
Typical payouts can last up to 26 weeks and go by the following calculations:
Hourly Employees: Number of years with company X 1 week of regular pay = Severance Pay $ Total
Salaried Employees: Number of years with company X 2 weeks of regular pay = Severance Pay $ Total
Am I entitled to severance pay?
No, most companies provide a severance agreement when they lay off or fire an employee. Offering a severance package is entirely optional for the company. Most companies only do it to protect themselves from future lawsuits, the employee going to a competitor company, or adverse claims from the employee. The company takes multiple factors into account when preparing the packages.