Formerly known as Compromise Agreements, Settlement Agreements are written agreements between an Employer and an Employee, in which the Employee agrees to give up certain employment rights, usually in return for a sum of money from the Employer.
They arise in a variety of situations and set out the terms of the termination of employment. To be legally enforceable there are a number of requirements that have to be met, and the Employee has to receive independent legal advice on the nature and effect of the agreement.
Attwaters Jameson Hill’s Employment Law Team will advise you on all aspects of Settlement Agreements and of the different options available to you before drafting them as required.
An Employer will usually pay a specified sum, typically £250-£500 + VAT towards the cost of us giving legal advice on the agreement (which may well cover the entire costs). Our fees will depend on the amount of work that we undertake on your behalf.
For details of our insurance-based protection product and the advice that goes with it: