On March 4, 2025, the New York Senate passed Senate Bill S372 (the “No Severance Ultimatums Act” or “S372”).
If enacted, S372 would add a new section to the New York Labor Law requiring New York employers to provide for a 21-business day review period and a seven-day revocation period in all severance agreements. Currently, similar protections are afforded to employees who are over the age of 40 pursuant to the Older Workers Benefit Protection Act (OWBPA), which amends the Age Discrimination in Employment Act (ADEA). Similar protections are also available to New York employees who enter into agreements settling claims of discrimination, harassment, or retaliation, but only if the agreement contains a non-disclosure provision relating to those claims.
Under the terms of S372, any severance agreement offered to an employee or former employee will need to:
The intent of the proposed law, as stated in the bill’s Sponsor Memo, is to extend the protections afforded by the OWBPA to all employees in New York, regardless of their age. However, there are a few notable differences: the review period proposed by S372 (21 business days) exceeds the duration required under the OWBPA (21 ...
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