Minnesota Severance Agreement Revocation Period

Minnesota Severance Agreement Revocation Period: What You Need to Know

If you have been offered a severance agreement by your employer, it is important to understand the terms of the agreement and your rights as an employee. One provision to pay close attention to is the revocation period, which is the amount of time you have to revoke or cancel the agreement after signing it.

In Minnesota, employees have a revocation period of 15 calendar days to cancel their severance agreement. This means that if you sign an agreement, you have 15 days to change your mind and revoke it without penalty or consequence.

It is important to note that the 15-day period starts on the day you sign the agreement, not the day you receive it. This means that if you receive the agreement on a Friday and sign it on Monday, the 15-day period will start on Monday, not Friday.

To revoke the agreement, you must do so in writing and deliver it to your employer within the 15-day period. It is recommended that you send the revocation letter via certified mail or email with a read receipt to ensure that your employer receives it.

If you decide to revoke the agreement, your employer must return any consideration, or compensation, that you received as part of the agreement. This could include a lump sum payment, continued pay for a period of time, or other benefits.

It is important to carefully review the terms of your severance agreement before signing it. If you have questions or concerns about the agreement, you may want to consult with an employment attorney to ensure that your rights are protected.

In conclusion, the Minnesota severance agreement revocation period is an important provision to be aware of as an employee. By understanding your rights and options, you can make a more informed decision about whether to accept or revoke a severance agreement.