Gyimah Law Negotiates a 50% Increase in Client’s Severance Pay in Chicago

Receiving a severance agreement can feel like another deadline during an already stressful transition. You may be thinking about your next paycheck, health insurance, and finding a new job. This is all while deciding whether the offer is fair.

Gyimah Law recently helped a client negotiate a 50% increase in severance pay, along with a contribution toward continued health coverage. The client came to the firm with an initial severance offer and concerns about the circumstances surrounding their departure. After reviewing the proposed agreement and discussing those concerns, Gyimah Law negotiated with the employer’s counsel to secure an improved package.

What Can Be Negotiated in a Severance Agreement?

The number of weeks of pay is often the first concern, but the full agreement deserves attention. Depending on the circumstances, negotiations may address:

• Severance pay: The amount offered and when it will be paid.

• Health coverage: Contributions toward COBRA premiums.

• Employment references: What the employer will communicate to prospective employers.

• Restrictions and obligations: Confidentiality, non-disparagement, and other continuing commitments.

• Release of claims: The rights the employee is being asked to give up. A larger payment matters, but so does understanding the terms attached to it.

Is It Worth Asking for More?

That depends on the facts, the agreement, and your priorities. An attorney can help assess the employer’s position, identify concerns, and weigh the potential benefit of continued negotiations against the time, cost, and uncertainty involved. Not every negotiation produces an increase. The goal is to help you make an informed decision about an agreement that may affect your finances and your next career move.

Received a severance agreement? Contact Gyimah Law to discuss the offer and your options before signing.

This post provides general information and is not legal advice. Results depend on the facts and circumstances of each matter. Prior results do not guarantee a similar outcome.