A settlement agreement is used to bring a mutually beneficial and amicable end to the relationship between an employer and employee.
The agreement will set out the terms of the contract termination, include details of any financial payment that will be given to the employee, and outline certain requirements that are to be met, for example waiving the right to bring future claims against the business and keeping the terms of the agreement confidential.
If you are an employer looking to exit an employee with minimal risk, we can assist and guide you through the process by:
drafting a bespoke agreement which reflects the specific circumstances of the business and protects you from future claims;
conducting any necessary negotiations with the employee’s solicitor in order to get the agreement signed.
It is a requirement of all settlement agreements that employees have received legal advice on the terms of the agreement from an independent adviser before they sign. In most cases, your employer will contribute some, if not all the legal fees incurred in relation to this (you will need to check the amount with your employer).
If you are an employee who has been offered a settlement agreement, we will review the draft agreement for you, to ensure it is fair and that the employer has met all of its contractual obligations. We will then explain everything to you in plain English and answer any questions you have, making amendments and negotiating where necessary.
If you would like further information on how we can help with a settlement agreement, you can email us at firstname.lastname@example.org, or book a free initial no obligation chat here.