Helping resolve disputes without the stress and cost of litigation, settlement agreements (formerly called compromise agreements) see an employer agree to make various payments to you in return for you agreeing not to pursue a claim against them in the Employment Tribunal or Civil Courts.
A settlement agreement follows termination of employment and once signed, the agreement is legally binding on both parties; although it is necessary for you to take independent legal advice in order for the agreement to be binding. Moreover, receiving legal advice on any settlement agreement also ensures that both parties fully understand the terms and consequences of an agreement.
A settlement agreement may require your employer to provide you with an agreed reference; something an Employment Tribunal would not be able to order them to do. It is also common practice for your employer to contribute some, if not all of your legal costs, making the service free to you.
At Linder Myers, our employment lawyers can help you negotiate a settlement agreement with your employer and may also be able to negotiate increased compensation on your behalf.
To find out more about how we can help you, contact us today.