A Settlement Agreement is a legal agreement between an employer and an employee, through which the parties agree to bring the employment relationship to an end, the employee waiving any claims that they may have in respect of their employment.
Our employment lawyers regularly advise businesses on each of the steps involved in reaching an agreement with an outgoing employee to end their employment via a Settlement Agreement. This includes advice on how to approach employees with an offer of a Settlement Agreement, tactics in dealing with the discussions and also whether such discussions would amount to a “protected conversation”. We also assist businesses in deciding what package should be offered to an employee in the particular circumstances.
In order for a Settlement Agreement to be legally binding, the document needs to be in a particular form and contain certain information by law. Our employment lawyers therefore also draft Settlement Agreements for our clients to ensure that the documents they use fulfil these requirements.
Another requirement for a binding Settlement Agreement is for the employee to take independent legal advice on the terms and effect of the agreement. We therefore also advise individual clients that are on the receiving end of an offer of a Settlement Agreement, which includes advising on the individual’s rights, the terms and effect of the agreement and whether the package on offer is appropriate in the circumstances. For further information please see our “Advice and Support for Individuals Page”.
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