Click here – If you are an employer looking for advice regarding settlement agreements.
Settlement Agreements (previously known as Compromise Agreements) are legally binding agreements to record the terms whereby an employee’s employment is (usually) terminated and the employer agrees to pay the employee a settlement amount in exchange for the employee’s agreement not to bring a claim against their former employer.
As the employee is effectively waiving their rights to pursue a claim for compensation, the employee must take independent legal advice in order for the Settlement Agreement to be binding. Settlement Agreements typically also set out the date upon which the employee’s employment will terminate, details of the claim being settled and details of any agreed reference and the amount to be paid to the employee.
Employers usually make a contribution to the employee’s legal advice and in many cases this contribution covers all of the employee’s legal fees.
If you are an employee and your employer has given you a Settlement Agreement to sign, SDM Legal can help you. Our team of employment lawyers regularly advise employees on Settlement Agreements and can negotiate the terms of the Settlement Agreement for you to make sure that you are getting the best outcome.
To speak to one of our solicitors in this area and to make sure the process is as hassle-free as possible, call us on 01524 237145 or complete our online enquiry form.
Our experience with Settlement Agreements
Instructing a specialist employment solicitor is essential in order to best protect your position and to achieve the best terms possible. At SDM Legal, we will explain your rights clearly and will also help you negotiate the best outcome for you.
The employment team at SDM Legal has over 25 years’ experience in negotiating Settlement Agreements and we are known for passionately protecting our client’s interests and putting clients in the best position to achieve the most favourable outcome.