How a Finance Business Hired a Lawyer to Review a Severance Agreement in Colorado (2023)

Hello. Thank you for the opportunity to respond to this question. In general, NO, once a severance agreement has been signed by both the employer and the employee, the agreement cannot be modified. However, if the employer hasn't yet signed the agreement, and only the employee has signed the agreement, the employer may suggest modified terms as part of the negotiation. Also, if the agreement has been executed by both parties and the agreement contains a revocation period, the employee (or possibly the employer) may still be able to revoke the agreement within a certain number of days. The agreement would have to be reviewed to see if it has a revocation clause. Bottom line, if both parties have signed a validly executed severance agreement, the employer cannot unilaterally modify the terms of the agreement, unless the agreement states otherwise. * This response is for general information purposes only and does not constitute legal advice or create an attorney-client relationship. For advice specific to your situation, please consult a qualified attorney.

My answer depends on many factors. First, if you are an "at will" employee (no employment contract), the employer can fire you for zero reason and with zero notice, and you have no rights unless you can prove that the employer is violating state or federal law (such as firing you for illegal discriminatory reasons, for submitting a safety complaint, or something similar). If you do have an employment contract, or possibly if you are 40 or older, you have the right to be given 21 days to review a severance proposal. I suggest that you submit a proposal here on Contracts Counsel, with a short turnaround, and ask an employment attorney to review the proposal and your employment situation with you. I generally engage in this sort of review myself, but, unfortunately, am not available until the end of January. Another option is to find an attorney through this national employee's attorney organization: NELA.org In either case, prepare yourself to pay $300 - $500 for a thorough review and discussion. Good luck to you.