Employers must proceed with caution in drafting, presenting, negotiating, and executing severance agreements with current or former employees. A carefully drafted and properly executed severance agreement can provide a win-win exchange of financial benefits, release of liability, confidentiality, non-compete, non-disparagement for both parties. However, hastily drafted agreements may not be enforceable at all, particularly if the agreement purports to release certain statutory rights that cannot be waived or if the employer has failed to give certain employees adequate time to review, seek counsel and revoke the agreement.