This is an agreement which terminates your employment on terms which are acceptable to both you and your employer. These agreements are often used to reaching a swift and amicable conclusion for both parties. The Agreement will likely include a contribution towards the employee’s legal expenses and if the Agreement is relatively straightforward, this can mean that there is often no fee for the employee.
It is a condition of such agreements; that the employee must be independently advised by a qualified solicitor, to ensure that the employee can fully understand their rights in relation to the termination of their employment and the terms of the Agreement. Agreements will often include clauses such as confidentiality, the giving up of Employment Tribunal claims and the terms of any financial package offered to the employee by way of severance. Severance payments can often be paid tax-free which represents an obvious benefit to the outgoing employee.
We understand that being offered a Settlement Agreement can be extremely traumatic in many situations. We are on hand to give practical, straight talking advice, in a supportive environment. If you have been offered a Settlement Agreement, and you need to talk to an experienced employment solicitor urgently, you can contact us on our dedicated number, 0115 947 1536, even if this is outside normal working hours.
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