A: The short answer is that they probably can. Colorado is an at-will employment state, meaning your employer can generally change the terms of your employment, including your termination date, at any time and for any lawful reason. Since the agreement is marked "draft" and hasn't been signed by either party, there is no binding contract locking in that May end date.
That said, this is the general rule. If you have an employment agreement, offer letter, or other written documentation that guarantees a specific termination date or notice period, that could change the analysis. You would want to review any such documents carefully to confirm whether your employer has already committed to specific terms.
There are also some important protections worth knowing about in this context:
If you are 40 years of age or older and the severance agreement asks you to waive age discrimination claims under the Age Discrimination in Employment Act (ADEA), your employer must comply with the Older Workers Benefit Protection Act (OWBPA). Among other things, the OWBPA requires that you be given at least 21 days to review and consider the agreement before signing, or 45 days if you are being terminated as part of a group layoff or reduction in force. You also get a 7-day revocation period after signing during which you can change your mind.
Here is the part that may relate to your question: if your employer makes a material change to the agreement, such as moving up your termination date, the review period starts over. So even if you have been sitting with the draft for a couple of weeks, a revised version with a new termination date would likely give you a fresh 21 or 45 day window to consider the updated terms.
***This response is for general information purposes only and does not constitute legal advice or create an attorney-client relationship. For advice specific to your situation, please consult a qualified attorney.***
