Lewisville Severance Agreement Lawyer

Lewisville Severance Agreement Attorney

Facing the sudden termination of your job can be overwhelming and frightening. You may be feeling betrayed, angry, and concerned about your future. Whether you live and work in Flower Mound or have just been fired from your job near Castle Hills, you deserve an experienced Lewisville severance agreement lawyer who can look over the severance agreement and package offered by your employer and ensure you are being treated rightly and fairly.

For over two decades, the team at Alagood Cartwright Burke PC has been helping their clients achieve their goals and find effective solutions after being terminated from their jobs. Selected as Texas Super Lawyers for a number of years, our team is proud to provide trustworthy and dependable service to all our clients and ensure that they are treated justly.

Defining a Severance Agreement in Lewisville

In Lewisville, Texas, a severance agreement is a legally binding contract that is established between you and your employer that outlines all the terms and conditions should your employment relationship come to an end. These agreements usually come into play when the company you work for restructures, faces layoffs, or during separations when the employee decides to leave the company.

In the last five years, there has been a 72% increase in severance generosity from employers, however, this does not necessarily mean that you will be given everything you deserve, which is why having an attorney look over your severance agreement before you sign on with the employer or in cases where you lose your job, is so important.

When reviewing a severance agreement, it is important to understand what should be included in this contract. This is not only important for your own personal financial reasons, but also to protect your rights and future for the potential of losing your job. The key components of a severance agreement in Lewisville, Texas, include:

• Severance pay. Your agreement might lay out the amount of money you can receive as a severance payment. This payment is usually calculated based on several different factors, including how long you have worked for the company, the position you held at said company, and the salary you made. In Texas, if an employee is fired, their final pay will be given to them no more than six days after they are terminated.
• Confidentiality. Depending on the position you hold at work, you may be required to maintain certain forms of confidentiality in regard to your company, even after you leave the company. This will all be outlined in your official severance agreement.
• Continuation of benefits. In Lewisville, your severance agreement might outline whether or not your health insurance, retirement, or other benefits will still continue and apply to you for a certain amount of time even after your role is terminated and you leave the company.
• Non-disparagement clause. In a severance agreement, this clause works to keep your employer and you from making any negative or disparaging statements about one another. This provision in a severance agreement works to maintain a positive public image for both parties involved.
• Release of claims. You will typically agree, in a severance package, to release your employer from any possible legal claims in the future related to your time of employment, including claims of discrimination, harassment, or wrongful termination.
• Return company property. You will likely be required to return certain forms of company property, all outlined in the severance agreement. Common forms of company property include laptops, keys, and access badges.
• Non-compete or non-solicitation clause. In your severance agreement, you might be required to adhere to certain clauses, known as non-compete or non-solicitation clauses. These clauses will work to keep you from directly competing with your employer after your employment is terminated or from soliciting your employer’s clients or employees for a certain amount of time after leaving your position.

Whatever your severance agreement might include, it is wise to hire a severance agreement lawyer who can look over the contract and help negotiate to ensure that the agreement complies with all necessary laws and protects both your personal rights and interests following job termination.

Factors Impacting Texas Severance Package Negotiations

In 2024, 58% of employers reportedly provided their employees with severance benefits. There are several factors that come into play in severance agreements and whether or not an employee is offered a severance package upon their leaving the company. Whether you have been laid off from your job, terminated, or have decided to voluntarily leave, there are many factors that can influence the severance pay or benefits you are eligible to receive. These factors include:

• Your length of service. The number of years you have worked for a single company will be factored into the amount of severance pay you may be entitled to. Typically, the longer you have worked for a company, the higher your severance pay will be.
• Job role. The necessity and significance of your role within the company, as well as the amount of responsibility you held within the company, will also impact the overall severance pay negotiations and amounts.
• Company policy. In Lewisville, some companies will have pre-established severance policies that will outline all the terms and conditions regarding employees who leave the company. These will come into play in your severance agreement.
• Overall job performance. The contributions you offered the company during your employment, or your performance while carrying out the duties of your job, will also come into consideration when negotiating your severance agreement.
• Pending legal claims. If there are any current legal claims you have pending against your employer, such as a wrongful termination case or accusation of discrimination, this can influence severance negotiations.

Hire a Severance Agreement Lawyer Today: Contact Alagood Cartwright Burke PC

As an employee and resident of Lewisville, losing your job can be a scary time, especially when it has blindsided you and you have not been given adequate time to prepare. At Alagood Cartwright Burke PC, we are passionate about working closely with our clients to evaluate the terms and conditions of their severance agreement and ensure they are being treated fairly and their rights are protected.

If you have questions regarding your severance agreement in Lewisville, contact our offices today and schedule an initial consultation with our team.