If your employer wants to terminate your employment, whether for redundancy or because it has raised concerns about your performance or conduct, it may ask you to enter into a settlement agreement.
A settlement agreement, which used to be called a compromise agreement, is a legally binding document used by employers, usually to bring your employment to an end. Under the settlement agreement you will be paid a sum of money in return for giving up your rights to bring claims in relation to your employment or its termination.
Because you are giving up rights under the settlement agreement it is a legal requirement that you take advice from a relevant independent adviser.
We regularly advise employees on the terms of settlement agreements and we will explain to you in layman’s terms all the legal jargon involved. We can also negotiate with your employer on your behalf and we will advise you on what your options are if you do not want to accept the settlement agreement.
We have solicitors in Southampton, Portsmouth and Brighton who can provide advice and assistance in relation to settlement agreements. If you have been offered a settlement agreement please get in touch to discuss how we can help you.
If you would like further information please contact us on 023 9238 8021 or fill in the enquiry form.