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COMPENSATION PACKAGES AND SEVERANCE PACKAGES

Most employees in New Jersey are at-will employees, meaning that they can be terminated for any reason as long as it is not discriminatory or for no reason at all.  However, there are some employees who are contract employees who receive contracts for a fixed term.  The contract is based on the employee’s employment status such as an executive, officer or director.  It is always advisable to have a lawyer review the contract to make certain that the contract is not skewed in favor of the employers such as long-term non-compete provisions.  In addition, an experienced lawyer will try to ensure that the terms of the contract are agreeable to both parties and that there are provisions in the contract for the employee such as fair compensation, timely promotions and salary raises, bonuses, health insurance, and severance. 

In some instances, employers will offer at-will employees who are being terminated, a severance package if the Employee Handbook provides for severance or simply for long-term employees who they wish to reward for their loyalty and hard work.  

Our employment attorneys at Cowen & Jacobs are skilled at providing sophisticated legal representation for any of your employment issues. Contact us today at 201-525-0025.

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