Settlement Agreements, previously known as Compromise Agreements, are formal documents used to settle claims that a person might have against their employer.
The are often offered by employers in redundancy programmes, or used as a way to settle a dispute, or to avoid an Employment Tribunal claim.
To be legally binding, the employee needs to be advised on the terms and effect of the Settlement Agreement, which is where we come in.
Our approach is to support you – ensure that you understand your rights, understand the terms and effect of what is on offer, and explain your options. You might want to sign straight away, negotiate hard for a better deal or somewhere in between. Our experienced team advise on hundreds of these each year so you are in safe hands, and we consistently negotiate better deals than are first offered!
The good news for employees being offered a Settlement Agreement is that is that typically employers pay some or all of the costs of your legal advice too, and we always try to cover your costs in this way.
We also help employers to draft and structure Settlement Agreements, and our pragmatic and professional approach has led to us being added to the panel of a number of major international organisations to advise their exiting employees on their Settlement Agreements.
Please contact us if you would the further advice regarding Settlement Agreements
If you are in discussions with your employer about a settlement agreement or have been given a draft agreement here is a checklist of things to think about.