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Many employers may stop your severance payments if the company rehires you for a new position. If you find a job elsewhere or start freelancing for others, some employers may choose to reduce your severance payments if your new source of income is less than what you used to be paid.

In a severance agreement, the employer offers the employee a sum of money in exchange for the employee giving up certain rights, such as the right to sue the employer. Severance agreements arise because, under California and federal law, workers have the right to sue their employers for many types of legal violations.

Typical severance packages offer one to two weeks of paid salary for every year worked. You usually have 21 days to accept a severance agreement, and once it's signed, you have seven days to change your mind.

How to negotiate your severance package Understand the components of a severance package. ... Wait before signing paperwork. ... Read everything carefully. ... Get an expert opinion. ... Understand your priorities. ... Negotiate for more than money. ... Decide on a reasonable request. ... Leverage your success.

A severance clause is a contractual provision that establishes an employee's right to receive a severance payment when his or her employment with an employer is severed. In many cases, the clause addresses circumstances in which an employer terminates an employee's employment.

Severance agreements must comply with relevant employment laws such as anti-discrimination laws, wage and hour regulations and workers' compensation provisions. An agreement containing provisions that contradict these laws may be considered invalid.

Fraud, misrepresentation, duress, or unconscionability are common defenses you can use if you want to void a severance agreement that you already signed.