Is a severance agreement final once I sign it?

Can you revoke after signing?

Sometimes. Two rules give you 7 days:

• If you are 40 or older and the agreement releases age discrimination claims, federal law gives you at least 21 days to consider it (45 in a group layoff) and 7 days to revoke after signing. The agreement isn't effective until those 7 days pass, and that period can't be shortened (29 U.S.C. § 626(f)(1)(F)-(G); 29 C.F.R. § 1625.22(e)(5)).
• At any age in Illinois, if the agreement makes alleged discrimination, harassment, or other workplace violations confidential, you get 21 days to consider and 7 days to revoke, unless you knowingly gave them up (820 ILCS 96/1-30(a)(5)-(6)).

Our severance deadline calculator shows whether you may still be inside a revocation window.

What you keep no matter what you signed

• The right to file a charge with the EEOC and take part in its investigation (29 U.S.C. § 626(f)(4)).
• The right to talk to the SEC about a possible securities violation (17 C.F.R. § 240.21F-17(a)).
• Your final pay, including earned vacation at your final rate, which Illinois requires no later than your next regular payday (820 ILCS 115/5).
• Your ability to apply for unemployment. In Illinois, severance pay does not by itself make you ineligible for benefits (56 Ill. Adm. Code 2920.45).

Terms that may not hold up

• Confidentiality about workplace violations that doesn't meet Illinois's requirements is void and cut out of the agreement (820 ILCS 96/1-30(c)).
• An age waiver that's missing a required element, like written advice to talk to a lawyer or, in a group layoff, the list of ages and job titles. The employer has to prove the waiver met every requirement (29 U.S.C. § 626(f)(3)), and you don't have to return the severance before challenging it (29 C.F.R. § 1625.23).
• A noncompete that doesn't meet Illinois's earnings thresholds or notice rules. See Is my noncompete enforceable in Illinois?

Red flags worth a second look

• A short fuse, like "sign by tomorrow."
• A broad release paired with a thin payment.
• Confidentiality, non-disparagement, or noncompete terms you don't fully understand.
• An agreement that arrives alongside a possible discrimination, retaliation, or wage claim, which means you may be giving up something valuable.

What to do now

Don't sign under pressure. Note the date you received the final version and any deadline in it, gather your offer letter and pay records, and have a lawyer review the release. If you already signed, ask right away whether a revocation period still applies and whether any term is unenforceable.

Not sure how long you have? Use the severance deadline calculator. If you're under 40 and wondering why your agreement gives you 21 days, see this explainer.

Related: severance review, wrongful termination.

This article is for informational purposes only. It may not be fully correct, complete, or current for your situation, and it is not legal advice.