by Fred Abramson on August 4, 2010
It’s 5:00 on Friday and your boss calls you into her office. You probably noticed that business has not been going well. A long time customer has left and there is simply not enough work to go around. Your boss, tearing a bit, breaks the news and offers you a severance package. Should you take it?
Believe it our not, you can negotiate a severance agreement.
- Understand that your emotions while be on high after you are initially handed the agreement. The worst thing that you can do is let your boss “have it.” Be cordial and ask for time to review the agreement. You have the legal right to do so.
- Don’t sign anything immediately. Your boss may ask you sign a waiver, which could release any future rights that you may have in the event of a potential lawsuit. So if you a fired while you are pregnant, waive your discrimination case goodbye.
- Be aware that your employer cannot withhold your wages if you fail to sign the agreement.
- Have you been paid all over your benefits? Review your employee handbook or employment contract to see if you are owed any vacation time.
- How is the severance payment being disbursed? In a lump sum or over a period of time. There could be tax benefits for choosing one form of payment over another.
- What health insurance is being offered? Look into possible of extension of your Cobra benefits.
- Your employer may want you to sign a non-compete agreement or non-disclosure agreement. If you sign a non-compete agreement, you may have trouble seeking new employment if the terms are not analyzed. A non-disclosure agreement may prohibit you from disclosing trade secrets to a potential new employer.
- Do you have any stock options?
- In some cases, your employee handbook or agreement may provide that your employer will pay your legal expenses for an attorney review your severance package.
- You can negotiate with your employer and agree to the language of your recommendation.
Don’t negotiate your severance agreement alone. The Law Office of Frederic R. Abramson reviews, drafts and negotiates severance agreements. Call me at 212-233-0666 for a free consultation.
by Fred Abramson on June 3, 2010
Zoe Baird watch out. If you employ a Nanny, even one who is here illegally, a new proposed New York Law is in the works that will place new burdens on their employers. The State Senate passed a bill last week that would protect Nannies. According the New York Times, this law is likely to be passed into law.
The new law will require the following:
- Paid holidays, sick days and vacation days for domestic workers, along with overtime wages.
- It would require 14 days’ notice, or termination pay, before firing a domestic worker.
The law would cover citizens, legal immigrants and those here illegally as well. It seems highly unlikely that those who are here illegally would make complaints to the Department of Labor for workplace violations.
This bill is a bad idea. The reality is that many working parents cannot afford a Nanny and pay her(always a women) taxes, workers compensation and overtime wages. My estimate is that the cost of Nanny would skyrocket to the $35,000.00 a year. Many families may decide to lay off their Nannies and let the parent who makes less money stay at home. Other families may decide to let their homes go into foreclosure.
There is a whole underground economy when it comes to domestic workers that benefits the workers as well. A brief sample of acquaintances who currently employee Nannies in the New York metropolitan area revealed that the average wage for a Nanny who is in the United States illegally is about $500.00 a week. Since they don’t pay taxes their earning power is up to a third more. Nannies are not regulated. There is no certification process and a criminal check is often impossible.
For this bill to work, the legislature should increase the child care tax credit to $10,000.00 a year per child. In addition, Nannies who have been here for 2 years should be given a path to citizenship. What do you think?
FYI, my kids are in daycare.
If you have a question about labor and employment law, contact me at the Law Office of Frederic R. Abramson at 212-233-0666.
