Employment Contracts and Severance Agreements
Employment agreements and contracts may appear at various stages of employment, from initial negotiation of a position or promotion to mergers and spin-offs, IPOs, and separation. A wide range of employees may be asked to sign contracts and agreements, including executives, top sales and marketing people, professionals seeking partnership or equity stakes, as well as professionals in certain technical fields.
Employment contracts typically set forth the terms and conditions of a position and the expectations of both the employee and the employer. These provisions often include the duration of a job, responsibilities and expectations, salary and raise stipulations, acceptable reasons for termination, and severance pay. Severance agreements typically provide payment based on an employee's duration of employment in exchange for the employee giving up certain rights, such as the right to sue the employer for employment-relation disputes. These contracts and agreements often include restrictive clauses such as non-competes, confidentiality or restrictions against solicitation after the employment comes to an end. The lawyers at Pelton Graham are able to aid in reviewing your employment contract and negotiating desired terms.
If you believe your employment contract has been violated, this is known as a breach of contract. If your employment contract has been breached and you have suffered damages, you may be able to recover economic damages for any such violation. In these situations, it is key to have an experienced lawyer by your side to safeguard your rights. Please contact us now to discuss your rights!