A Settlement Agreement is a legally binding contract between you and your employer used to terminate your employment, normally on the basis that you will receive some compensation. A Settlement Agreement prevents you from later pursuing any employment claims against your employer. For this reason, such Settlement Agreements are only enforceable if you have received independent legal advice.
Understanding a Settlement Agreement
If you have received a Settlement Agreement, our team of expert solicitors will not only be able to advise you on the terms, but also whether there is scope to possibly improve those terms. One area in particular that has potential for negotiation or amendment is any financial offer that you may have been given.
Fees for a Settlement Agreement
When faced with a Settlement Agreement, you need to have confidence in your adviser and trust them to be clear regarding the likely fees to be incurred. With Settlement Agreements, the employer generally makes a contribution to the employee’s legal costs in taking advice on the agreement and the contribution can vary depending on the complexity of the situation. Our aim is, whenever possible, to ensure that all the fees are paid by the employer and not you. The average contribution to legal fees from an employer is £500 plus VAT and we strive to provide advice within this fee limit, if possible.
Negotiating a Settlement Agreement
Our employment solicitors are sympathetic in their approach, appreciating the sensitivities involved with such agreements and ensuring matters are concluded to your satisfaction. Ultimately, our aim is to achieve an outcome that meets or exceeds your expectations.