Has anyone ever added/negotiated a clause guaranteeing favorable terms in the event of a layoff as part of their employment contract?

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Yes. It’s very smart to negotiate severance in advance

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Think that's more common when you move for the job...? To establish a contract period...

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Never hurts to ask...but may also slide you down a notch when candidates are prioritized. There’s always some form of risk in negotiations.

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Severance policy is a pre determined company policy, highly unlikely you'll negotiate it unless some sort of very senior management position

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Generally, executive level talent does this because their lawyers are usually the negotiators and people who get head-hunted into a different market. An ex of mine was head-hunted from Amsterdam to New York and he had a severance clause. It’s about increasing the cost for the agency to fuck with you after you uproot your life.

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Negotiated my first one as a VP-ACD years ago. Was told “we don’t do that below executive level”. I think it’s really dependent on how much they want you...and how good you are at playing chicken with them. A risky game...but worked for me. I had to agree to not disclose my sev contract...but eventually...def worth it. Got paid for longer than I was out.

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What do you mean by favorable terms?

Establishing a period of continued salary post layoff. Rather than leaving it to the goodness of the agency’s heart if it happens

The word you are looking for is severance

I think it's also common if you come to an agency just to help them pitch a business...

Depending on your level, it may be a hindrance. Most states are at-will, so severance is not guaranteed, but if you get it in a contract, that will give you some leverage.

Yeah just wondering if agencies would be willing to negotiate on it after they give an offer. It makes sense that if they would, it would more likely be for higher level positions.

Yes I have.

Thanks everyone

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