Separation Agreement?

[thewisdomseeker]

What is the name of your state (only U.S. law)? Florida

Hello Everyone!

I'm seeking some advice regarding an agreement my former employer wants me to sign. It comes with a "severance"...

I didn't give it any thought when they first asked me to sign, but they called and asked if I signed it.

I looked at it, but just to be sure I would like someone in legal to tell me what this agreement is basically saying.

Any help would be great. If you have any questions or suggestions, please let me know.

I truly appreciate your help,


Since there is no way to add attachments to a thread, I included a direct download link using sendspace.com to attach the documents.

Copy and paste this link into your browser: https://fs03n1.sendspace.com/dl/9c3c98ac92af44e9a0a6ba80f9289f5d/548b88944823b3c9/bntf6i/Page%201%20Sep%20Agrmnt.zip

 

[commentator]

Er, no thank you. Is there a particular aspect of this agreement you have a question about? You might give us an abbreviated idea of that issue, and we might offer general suggestions, but if you want it reviewed by an attorney, you'll have to retain one and let them look it over.

 

[eerelations]

Most companies ask for a signed separation agreement in exchange for severance pay. Most of these agreements basically say "in return for getting severance pay, you agree to not sue us." This in no way means the company has done anything sue-able, it is just a protection. They are giving you money that they are not legally obliged to give you and in return for that they want an assurance that you won't hassle them sometime down the road. This is SOP in business.

If you suspect your agreement says something other than what is summarized above, you need to take to a local employment attorney for review.

 

[thewisdomseeker]

Hi commentator and eerelations.


Thanks for responding.

Sections 3 and 4 made me a bit concerned. If I understand correctly, it talks about the employer being entitled to liquidated damages in the amount of the severance pay plus interest at a rate of 12% per year from the date of release. I don't want anything coming back and surprising me in the future. I may just not sign it and tell them not to call anymore.


Thanks for the help you two!

 

[eerelations]

It sounds like those are the penalty sections, i.e., "you violate this agreement and you'll have to return the severance pay + 12% interest." However, you really need to run this by an attorney to be sure. Personally I'd do just that, if this agreement turns out to be just as SOP as I suspect it is, then I'd for sure want that money. (Unless you're planning on suing them? Are you? What for?)

If you just tell them not to call you back, then you definitely won't get the severance pay.