Settlement Agreements

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What is a settlement agreement?

 

A settlement agreement is a legally binding settlement made between an employer and an employee. It is usually offered shortly before or after the termination of employment and covers the full, agreed terms between the two parties: in essence, an employee agrees to waive their employment rights in return for compensation and other agreed terms such as a reference, confidentiality, and non-badmouthing.

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In some cases, a settlement agreement may also be used in an ongoing employment relationship in order to settle a dispute.

 

What are the benefits of a settlement agreement?

 

Settlement agreements have a number of benefits including providing certainty and bringing a dispute to a close. In the event of the termination of employment, the agreement allows for a clean break in the relationship between you and your employer.

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Why do you need settlement agreement advice?

 

Settlement agreements are legally binding, so they are only deemed valid if you have received independent legal advice on the terms and effects of the agreement prior to signing.

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The advice will outline your rights and determine whether or not the agreement is fair and in your best interest taking into consideration any potential employment tribunal claims you might have. If this is not the case, the next steps may involve the negotiation of a fair settlement agreement with your employer.

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How can our Settlement Agreement Solicitors help you?

 

Our Settlement Agreement Solicitors at JLJ legal can advise you on:

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• Your employment rights including any employment tribunal claims you may have

• Whether your compensation is sufficient in light of this

• The cause and effect of each term of the agreement and whether they should be amended to better protect your interests.

 

To find out more about how our settlement agreement advice can help you review and, where necessary, negotiate your settlement agreement, book your initial call today.