It is not uncommon for an employer to ask its employees to sign a separation or severance agreement at the time of termination. These contracts typically provide the former employee money and occasionally other benefits in exchange for a number of promises that will protect the employer's interests. For example, a separation agreement might require that the former employee waive the right to recover legal damages, to compete against the company, or to criticize or disparage the company, in exchange for a monetary payment.
It is important that an employee fully understand one of these agreements before signing. Ignorance of what the agreement means generally won't be an excuse for violating it. If the agreement includes promises that you don't want to make, or if your employer is not offering enough money in order for you to make those promises, then an employment lawyer can negotiate with your former employer on your behalf.
If you have already signed a separation agreement, an employment lawyer can still help you understand your obligations, as well as confirm that your employer complied with legal requirements when drafting the separation agreement. Although rare, if your employer failed to include certain key provisions in the agreement, then you might not be bound by all of its provisions.