Unfortunately, the end of the year is the time for layoffs. If you are one the many chosen for termination, think twice before signing any separation agreement. Most corporations will allow you to take the termination home to review. If this option is given, take it, read it over carefully, and seek legal advice from an experienced employment lawyer.
Pitfalls in a Separation Agreement
1. Waiver of all discrimination and worker's compensation claims;
2. No limitation on what the employer can say in a call from a prospective employer;
3. No obligation for the employer to provide a neutral reference letter for the employee;
4. One sided non-disparagement clause;
5. Nonpayment of vacation and sick leave time;
6. Low severance pay;
7. No information on COBRA rights; and
8. Prohibition on seeking future employment with the company.