Settlement agreements (formerly called compromise agreements) are increasingly being used by employers during dismissal and redundancy procedures.
Linder Myers has a team of settlement agreement solicitors who can help you to draft up new contracts and review existing deeds so that they fully protect your business. We can also offer legal support during any negotiations to make sure that your best interests are always met.
A settlement agreement allows both the employer and employee to make a clean break, where the process involves:
- Terminating the employment relationship, where the employee is unable to make a claim to an Employment Tribunal.
- Providing the employee with a severance payment, while providing them with ‘payment in lieu of notice’
An employee needs to seek legal support from independent employment settlement agreement solicitors before they sign the contract otherwise it is not legally binding. If their legal team believe that the terms and conditions aren’t suitable for the individual, this can lead to a negotiation period.
At Linder Myers we make sure that your employment settlement/compromise agreement allows you to settle a dismissal or redundancy procedure without the time, stress and cost of litigation.
Watertight compromise agreements
When drafting and reviewing your contracts, our settlement agreement solicitors will take care to include sufficient provisions that protect your business, which can include:
- Restrictive covenants
- Confidentiality clauses
- Provisions restricting derogatory statements
As we are highly experienced in preparing settlement agreements for a number of business situations, you can trust our team to draft up a legally binding agreement containing terms and conditions tailored to the exact circumstances of your case.
We can also offer legal assistance during negotiation periods, where common discussions tend to include references and indemnities as well as immediate and ongoing obligations. Our team are adept at dealing with these situations and always make sure that a satisfactory conclusion is achieved by both parties.
Once your employment contractual agreement has been approved and signed by the former employee, the individual will be unable to pursue any future or present claims against your business either in the Employment Tribunal or Civil Courts.
Phone our settlement agreement solicitors on 0844 984 6444 for further information on the contractual agreement and the legal support we offer to employers.Contact us