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Old 05-09-2014, 07:58 AM  
BigRichard BigRichard is online now
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Laid off

So I got laid off yesterday and my work is offering me 3 weeks of severance for signing this release agreement. There is basically some demands like I won't bad mouth the company and I can't sue them for anything.

It has some wording about releasing the company from "all such claims and demands related to salary, bonuses, commissions, incentive compensation awards, incentive shares, vacation pay, fringe benefits, expense reimbursements, severance pay and/or any other form of compensation (including, without limitation, unpaid wages, commissions and compensation)".

Does that mean I can't draw unemployment if I sign this then? Or is that something entirely different. Just wondered if any of the lawyers around here know anything about this?
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Old 05-09-2014, 08:00 AM   #2
petegz28 petegz28 is offline
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It's pretty standard to have to sign an agreement like that. I drew unemployment while receiving severance.
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Old 05-09-2014, 08:06 AM   #3
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I agree that it's standard.
Go file for unemployment today. It takes a while for them to go through and they base everything off of when you apply for the bennies (from what I understand).
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Old 05-09-2014, 08:07 AM   #4
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Non-compete and derogatory comment clauses are common place these days.

Before signing, just make sure that they don't owe you unused vacation days which they owe you for or don't have any outstanding amounts for commissions/bonuses.

If you are uncomfortable signing have an attorney look at it.

Almost every place I have ever left (on my own or as part of a staff reduction) I have had to sign a release like this. But since I am management I have had other clauses that are a part of my separation agreement.
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Old 05-09-2014, 08:10 AM   #5
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Quote:
Originally Posted by petegz28 View Post
It's pretty standard to have to sign an agreement like that. I drew unemployment while receiving severance.
I pretty much figured it was standard, I was just a little concerned with that wording I quoted as screwing me out of unemployment benefits. Thanks for your input.
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Old 05-09-2014, 08:10 AM   #6
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Quote:
Originally Posted by Grim View Post
I agree that it's standard.
Go file for unemployment today. It takes a while for them to go through and they base everything off of when you apply for the bennies (from what I understand).
This
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Old 05-09-2014, 08:11 AM   #7
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Quote:
Originally Posted by Grim View Post
I agree that it's standard.
Go file for unemployment today. It takes a while for them to go through and they base everything off of when you apply for the bennies (from what I understand).
Thanks for the info.
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Old 05-09-2014, 08:13 AM   #8
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Quote:
Originally Posted by Mosbonian View Post
Non-compete and derogatory comment clauses are common place these days.

Before signing, just make sure that they don't owe you unused vacation days which they owe you for or don't have any outstanding amounts for commissions/bonuses.

If you are uncomfortable signing have an attorney look at it.

Almost every place I have ever left (on my own or as part of a staff reduction) I have had to sign a release like this. But since I am management I have had other clauses that are a part of my separation agreement.
Yeah, I am going to wait till I get my check on the 15th to make sure it is all there before I sign it. Shitty thing is me and the wife have a trip coming up going to the Cayman Islands. It is mostly paid for but still going to have to buy shit down there. Just makes it a little harder to enjoy.
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Old 05-09-2014, 08:41 AM   #9
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Take taxes out on your unemployment if you can because paying all of them at tax time is a bummer.
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Old 05-09-2014, 08:44 AM   #10
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Happened to me several years ago at an old job. I accepted the severance and drew unemployment.
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Old 05-09-2014, 08:44 AM   #11
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Sorry to hear about the layoff.
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Old 05-09-2014, 09:00 AM   #12
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Quote:
Originally Posted by luv View Post
Sorry to hear about the layoff.
Thanks. I am fairly marketable though so I should be back in the saddle in no time.... I hope.
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Old 05-09-2014, 09:00 AM   #13
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sorry to hear that Bro! what industry are you in? If i come across anything ill pass it along.

Yes, when in doubt have an attorney check it over. if you ask me, its money well spent to make sure nothings overlooked. remember, some companies will go by the "a fouls not a foul unless the ref blows the whistle" mentality.
if you get a severance then unemployment will take that into consideration and possibly delay your unemployment benefits. I think it has to do with how your company handled it and the number or % of the layoff at your location. thats what happened to a lot of people who got cut from Sprint a few years ago. however, because they (Sprint) didnt follow the correct procedure, many of the folks laid off were able to challenge it and won. since no rep from the company attended the hearings. if you didnt challenge it, the state of KS took your severance as a double dip and thus forced some to repay that portion of unemployment. (example. you got 1000k severance. and your unemployment benefit was 500 every two weeks.... after the first month you would have to repay that 1k.)

however, i dont think that your situation is in the same boat as the Sprint/Nextel one. file as others have said...just mention your severance because they will find out about it and having to repay would suck.
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Old 05-09-2014, 09:45 AM   #14
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Go get your unemployment ASAP. From what I recall they do ask about severance so if they know you get 3 weeks they will delay it until then. Of course it will take prob that long just to process your claim so get in t
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Old 05-09-2014, 09:48 AM   #15
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And while your signing up for unemployment take of look at the people waiting to get called on there try not to let it get to you.
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