My friend, Chris McKinney has written a helpful post about severance agreements. He answers the question, Should I ask a lawyer to review a severance agreement before I sign it? Yes, we all should have a lawyer review such an agreement. Chris lists several good reasons, but he biggest reason is to ascertain whether you have a valid claim or not. Even if you do not wish to file suit against your employer, you should still understand what bargaining leverage you might have. Most people do not wish to file suit of any sort. But, they should still understand what rights they may be releasing in a severance agreement. Every severance agreement will contain some clause releasing claims against the company. See Chris’ post.
As Chris mentions, you would need a lawyer who specializes in employment law or small business issues.