I am getting a severance package. Should I have an employment attorney review it before singing? I have no ax to grind with WF. I just want to make sure I don't sign away any benefits. Your input is appreciated.
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Pay the money for an attorney if it makes you feel better. If you think that you were treated inappropriately during your employment with WF then definitely consult an attorney for your options. Otherwise you could simply sign and use the money elsewhere. The WF severance policy is better than some companies and worse that others. It is unlikely they take your changes. If there is something that comes up later regardless of what you signed courts hate WF so it shouldn't be an issue for a decent lawyer to find a way to get around what you signed.
@ @2fyw+16DIm0Bf. Do you mean that WF can sue an employee? Is that the reason to have attorney fees striked?
Hey buddy, @zbh+16DIm0Bf – you are really not understanding the basics of the attorney fees clause. Dude, you are negotiating so you don't get stuck with paying WF for any crazy lawsuit – i.e.. it's a one-sided clause that means YOU PAY attorneys fees REGARDLESS of whether you win or lose. The standard practice is that the only the Losing party pays.
what's the point of striking attorney fees from the agreement, if you also agree to not sue them elsewhere in the agreement?
It depends. I’ve been laid off before and saw two attorneys due to low severance amount and the level I was. There were underlying circumstances from a religious aspect and being a male in a female dominated org.
The first said I didn’t really have a Case but thought a letter would get me about 3 months instead of the 2 weeks. Her fee; 35% of the payout. It cost me $250 for this advice.
Second one just had a conversation with me and told me it wouldn’t be worth hiring him as I really had no case. He said just write a letter. Which I did and got 2 months of severance.
Unless you have clear evidence of discrimination or wrong doing when your position is eliminated it’s pretty much pointless to fight especially if you are already getting several months to a year of severance.
Don’t listen to the mo–n claiming you’ll never work for wells again. If you were a decent performer and had nothing in your HR file you can get a job again or work as a consultant. There are even open jobs that you could apply for. Getting it just means you give up your severance.
people... Wells is counting on all of you to sign the document with no questions. Be smart. Call up an employment lawyer and have them review your documents. It's worth every penny because Wells is incentivized to get you to sign away your rights. While you will still be signing away your rights, being represented by an attorney will increase the likelihood that you get more money to sign away these rights...
In essence, in signing your packages, you, your agents, heirs, etc., etc. will be waiving Wells Fargo from any and all things and remedies of any type. Basically everything.You will never be able to sue them again for anything – EVER – even if you have proof of wrongdoing.
You will also be waiving your right to pursue any disputes against Wells. Forever.
And more than likely, Wells will have a provision in there that states that you agree that in the future you will not accept employment or other relationships (i.e., as a contractor) with Wells. And that if do apply to Wells and are denied employment or other relationship (eg as a contractor) in the future that the denial will not be a violation of any law.
Translation, you will NEVER be able to work at or for Wells in any capacity again.. EVER..
So, if you move on to lets say consulting for a consulting company and at some point the consulting company wants to put you on their Wells contract.. Too bad.. You will not be able to do it and will likely damage your employment prospects at that consulting company.
Be sure you add language into the agreement protecting YOU against disparagement by Wells. There will certainly be one in the document stating that YOU will not disparage Wells... but Wells will not, by default, insert language stating that THEY will not disparage YOU.
Be smart.
Yes, if you can, get an attorney’s advice. Don’t just ask them to read the offer. Describe your specific situation. An attorney who knows the specifics of your situation can be an effective negotiator to get you a better offer. There’s no guarantee that will happen, but it doesn’t hurt to try. For example- if you are the only person over 40 in your group eliminated, or if your boss has previously sent you Skype messages with s-xist remarks. You’re still going to get laid off, but WF may be incentivized to increase your payment in order to get you to waive a claim that it would spend more to litigate than your increased payment.
Absolutely!
Does anyone know of a time when WF made requested changes to a severance agreement? I don't see them doing that.
FYI: Sticking in a clause that make you responsible for paying attorneys fees from any litigation is just another Blunt Object Over the Head that WF is trying to slip in to not just discourage you but kick you while you're down and inflict severe damage to your wallet.
Just to clarify and translate a bit here: To "strike attorney Fees" from the severance agreement – just means that you will not agree to pay attorneys fees and you will not sign the agreement unless the attorney fees clause is "struck" (removed ) from the agreement.
Again, this is your counteroffer – as in I will not sign unless you make these changes. And WF mostly likely will agree to these sorts of counter-offers/negotation. Getting your signed severance agreement is a big win for them – it removes threat of litigation from you.
Yeah, I don't share the high opinion that these severance and release agreements are "bulletproof" – this being WF they probably contracted it to high priced law firm counsel at one time and now it's just a mess of old and new stuff — complete with clumsy clauses added after every lawsuits. i.e. , a jumbled hot steamy mess that could be challenged.
What exactly does it mean to strike attorney Fees from the contract? I thought that if employee signs it, then they are not allowed to sue anyways. So what is the point of attorney fees?
Disagree with the poster saying "it’s not that complicated" — this is a legal document. It is not written to be a consumer disclosure. It is not written to be logical or to be understood. It has phrases and clauses that have specific legal meanings – and traps – that a non-lawyer is not going to catch.
If you don't mind forking over the 1-2 hours in lawyer fees it's going to run you, go for it. You're going up against a tried and true program for displacement from a scandal-plagued mega-cap corporation. It's probably pretty watertight as is.
This is not necessarily a "take it or leave it" deal – there is some room for negotiation. For example, striking attorney's fees –as another post suggested — is pretty standard redlining.
Yes, OP get an employment law attorney to review – should be not be more than one hour of their time (Ask for quotes – i.e., $200 an hour probably in the ballpar). Why do this? Well, you are giving up items of value – i.e., potential claims against them.
Example of one item to watch out for: Employers like to slip in one-sided provisions that demand you pay attorneys fees. So you would want to basically strike any clause or anything that mentions attorney's fees; make sure you get a clean copy without such provisions to sign.
Hiring an own attorney sounds like overkill, but it really is not. This is a minimal amount in comparison to the expensive pitfalls/mistakes of just signing what appears to be "boilerplate."
Attorney will alert you to other traps as well, but this attorneys fees is the one "gotcha" that is in all sorts of agreements (e.g. landlord tenant lease)
Read it yourself first. If there’s anything you don’t understand you could have a lawyer look at it but it’s not that complicated
If you take the severance package as described you give up your right to sue them. In a nutshell.
You don't have anything to gain. WF is a pro when it comes to this stuff. Take the severance and move on. Does it s—? Yup. Are they better at this than you or any attorney you could hire? Yup.
Well I mean, if your lawyer provides some input and you don't want to sign the agreement, guess you'll lose your job and not get severance.
Will you be singing a capella?