Over the years, it has become more and more common for employers to offer their employees settlement agreements (previously known as compromise agreements) when an employment relationship comes to an end. If you have been offered a settlement agreement, you will normally be asked to settle any claims that you may have against your employer in return for a lump sum cash payment (and perhaps a few other sweeteners besides).
Dazed and confused? Before you can enter into a settlement agreement, you will be required to take independent legal advice on its terms and effect. This can all seem rather daunting; you may not be used to dealing with lawyers and legal documents. Even if you are, you may be reeling from the shock of losing your job. Whatever your situation, we can guide you through the process. How can we help? We regularly advise employees, senior executives and directors from Sussex, Surrey and beyond on their settlement agreements. If you need our help, we will meet with you at our Crawley offices to take you through the agreement, clause by clause, making sure that you know what you are signing up to. We can also advise you on whether the financial package on offer represents a ‘good deal’ in the circumstances and whether it is in your interests to accept it. Where necessary, we can assist you in re-negotiating the terms of the agreement, to ensure that you walk away with the best deal possible. Who pays our costs? In these sorts of situations, we understand that you are likely to be concerned about the cost of taking legal advice.
But your settlement agreement will normally include a promise from your employer that they will make a contribution towards these costs. As a result, you may not have to pay us a penny for the help that we provide. Getting in touch If you have been given a settlement agreement and need our advice, then call James Willis on 01293 596931 and find out how we can help. This article is provided for general information only. Please do not make any decision on the basis of this article alone without taking specific advice from us. stevensdrake will only be responsible for the advice we give which is specific to you.