Settlement agreements

Have you been offered a settlement agreement?

Verisona Law’s specialist employment lawyers are experienced in reviewing and advising on settlement agreements.

Formerly known as a ‘Compromise Agreement’,  its purpose is to set out the terms agreed between you and your employer, on the termination of your employment.

Employers will often offer a payment in return for your agreement to waive your right to later pursue a claim in the employment tribunal.

It is a legal requirement that you obtain independent legal advice before signing a settlement agreement, failing to do so could result in the agreement being void and could affect your payment.

What are the reasons for a settlement agreement?

There are a number of reasons for a business to offer a settlement agreement:

  • Redundancy following a business restructure
  • Mass redundancy due to business or site closure
  • Misconduct
  • Performance issues
  • Breakdown in relationship

Regardless of the reason for being offered a settlement agreement, Verisona Law can help by reviewing your agreement, ensuring that it covers what you require and advising on the next steps.

There may be tax implications on the payment you receive, therefore it is important to review you claim with a Solicitor.

Should we find that the terms of the settlement agreement proposed does not cover what is agreed or you feel that you are not in a position to accept the terms proposed, Verisona Law can negotiate with your employer on your behalf to facilitate reaching an appropriate agreement.

 

Effective advice

Our team of experienced employment lawyers can review your settlement agreement, ensuring you get the best possible outcome. Contact our Employment Law team today on 02392 98 1000 or email connect@verisonalaw.com.

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