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Employers can cancel or change their severance policies unless you and your employer have a written or oral employment contract stating that you will be paid a specific amount for your severance.

An individual is not required to sign a severance agreement. You may not like the terms being offered and want to negotiate for better ones. You may decide against signing the agreement if you intend to file a lawsuit and do not want to accept the benefits offered in exchange for agreeing not to sue.

Can you get the employer to increase its offer of severance? (6-12 months of severance pay is typical for executives and potentially higher for CEOs).

Does this mean that an employee who quits or otherwise terminates his or her own employment is not entitled to severance pay? Yes. In such cases the employer must pay all wages and any other amounts that may be due to the employee, but is not required to pay severance pay.

A severance agreement may be a sign that you and your employer are not departing on the best terms.Fortunately, you may be able to negotiate a severance package with a non-disparagement clause that applies to both you and your former employer so both parties cannot say anything negative about the other.

The purpose of this letter (also referred to as the Agreement) is to establish an amicable arrangement for ending your employment relationship, to release the Company from all legally waivable claims and to permit you to receive severance pay and related benefits.

Severance pay is often granted to employees upon termination of employment. It is usually based on length of employment for which an employee is eligible upon termination. There is no requirement in the Fair Labor Standards Act (FLSA) for severance pay.