In many cases, former employees see only the amount of severance pay offered and do not understand the impact that signing a severance contract could have on their future. If you lose your job unexpectedly and you`re not sure of your next steps, the money is all the more tempting. But the obstacles that this type of agreement could represent for your future job and future financial benefits are very high. Whether you need help establishing a compensation agreement to protect your business, have questions about the applicability of such agreements, or have doubts, or you want to receive your package, our lawyers have the experience and knowledge of North Carolina laws to help you. The above issues and other possible pitfalls related to severance agreements will be discussed in Nexsen Pruet`s “Key Issues in Settling Related Claims” webinar, scheduled for August 9, 2017. Answers to any questions about your severance pay or to plan an assessment, call Gibbons Leis, PLLC: 704-612-0038. Workers whose employment is hired for any reason must receive all wages due on the normal day or before the next regular wage day, either through regular wage channels or by mail at the worker`s request. Wages based on bonuses, commissions or other methods of calculation must be paid on the first normal pay day, after the amount is calculated in the event of separation. Wages, bonuses and commissions earned cannot be cancelled unless the employer has a directive leading to forfeiture and the worker has been informed of the employer`s directive (in accordance with the N.C Gen.
Stat. Employees who are not informed are not subject to such a loss or forfeiture. For any worker aged 40 or over, the severance agreement must include certain provisions of the Age Discrimination Act (“ADEA”) in order to validly release all rights under the law. The Employment Commission has published a guide entitled “Understanding Waivers of Discrimination Claims in Employeee Severance Agreements,” which discusses the EEOC`s position on the validity of authorizations in severance agreements and provides a detailed description of ADEA requirements and corresponding assumptions. Employers should be aware of these requirements, which include reference to ADEA claims, advise the employee in writing to consult a lawyer before accepting the agreement, and the staff member at least 21 days to review the offer of compensation and seven days to revoke the contract after the agreement is signed. While some employers offer a severance package, whether or not you sign their compensation agreement, most of them offer a significant financial incentive to sign the severance package. Fortunately, you can protect yourself and you will still receive severance pay by hiring a lawyer in Charlotte.