Severance Packages and Employment Agreements
When it comes to severance packages and employment agreements, a poorly-drafted document may be as useless as no document at all. Whether you are an employer or employee, investing the time to work with an experienced employment lawyer to negotiate and draft appropriate severance and employment agreements makes good business sense.
At Minenko & Hoff, P.A., we understand that not all employment relationships are the same and that "cookie-cutter" agreements rarely work, so we draft severance agreements and employment agreements that meet your specific needs.
Severance packages in Minnesota
While severance packages are not required by law, employers and employees often choose to enter into severance agreements with each other. In addition to recognizing a departing employee's service to the company and providing financial assistance for the employee's transition to a new job, an employer can get a waiver of legal claims from the departing employee in exchange for the payment of severance.
Severance agreements are subject to strict drafting requirements and releases of claims must be properly worded to be valid. Minenko & Hoff, P.A. helps employers and employees understand, draft, and negotiate severance agreements.
Employment agreements in Minnesota
Unless a company provides a written employment agreement that provides that the company can only terminate the employment relationship "for cause," most employment in Minnesota is considered "at-will" employment. This means that either the company or the employee can terminate the employment relationship at any time, without notice, with or without cause or good reason. Written employment agreements can serve as an alternative to the at-will employment relationship. Not only do they spell out such things as the employee's duties, compensation and benefits, and performance goals, but they also can specify in advance the rights and obligations of the parties when the employment relationship comes to an end.
An effective employment agreement clearly outlines the terms of employment. While preparing such an agreement may seem straightforward, it is best to entrust this task to an experienced Minnesota employment lawyer.
Contact Minenko & Hoff, P.A. today
We welcome the opportunity to LISTEN to you, to UNDERSTAND your legal issues, to earn your TRUST, and to WORK HARD to help you reach your goals. Contact us today for assistance.
