It is important to understand all the basics first. A severance agreement is a legally enforceable agreement between you and your employer. You can negotiate this agreement with your employer upfront or when you are exiting. Signing the agreement means you will never be able to sue your employer. You should hire a lawyer in this case so that you will know exactly what you are going to receive. Your time and money are the ones involved in a severance negotiation not your emotions. Hiring an attorney will earn you a higher settlement.
Ensure that you ask for a reasonable amount of money during a severance agreement. This is because if you demand more you will end up spending more time in litigation. The amount you should ask for should depend on your basic salary and bonus. There are confidentiality clauses in all severance agreements. In this case you will be restricted from disclosing any information about the agreement. This is a standard provision in all severance agreements. When you disclose your severance you will risking a lot. Your employer will forfeit the severance if he finds out. The release of claims in this case will remain in force.
If not satisfied with what is offered you will have to find a legal claim. It will be advisable for you to seek the services of a lawyer in this case. Your employer will be forced to give you a higher severance amount. Negotiating your own severance agreement will make you lose money. You need to always understand non-competition and non-solicitation provisions in the agreement. This is because your next job may be seriously interrupted by these provisions. This is in a case where you violated these provisions. If you did not sign these provisions in the agreement you should not agree to them.
You should feel free to sign a severance agreement when ready. You should be given enough time to actually review this agreement. You can seek employment once you have signed severance agreements. The employer can in this case waive any right to seek employment. This is an added advantage because you will not have to stay without a job. You can be able to fill out a claim in case you are denied severance.
In this case you will just sign a release agreement and then obtain benefits. Always ask for mutual release of claims in all severance agreements. In this case the agreement will contain all claims by the employer. Even if you do anything to warrant a legal case by the employer nothing will change. Mutual release of claims is necessary if both parties agree.