Do you need help to reach a settlement agreement?
When considering a settlement agreement, you will want assurances that you are dealing with a law firm with considerable experience of what is involved. Our expert settlement agreement solicitors have an excellent track record in negotiating increases in the value of packages offered to senior executives and the level of service and advice we provide, specifically to senior executives, has seen us ranked amongst the best lawyers in the UK in the latest Legal 500 guide.
If you need guidance, we can advise you on the value of any possible claims you may have against your employer and weigh up with you whether the offer contained in your settlement agreement is fair in the circumstances.
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What is a Settlement Agreement?
Settlement agreements, once signed, are legally binding agreements made in full and final settlement of all and any potential claims. It is therefore imperative that you receive legal advice before signing a settlement agreement to make sure you are receiving a fair financial settlement to compensate you for any claims you may be waiving. This is where we can help.
Settlement Agreement Service
Our fee (which your employer will usually pay) covers advice on whether the level of compensation you have been offered is fair, and represents adequate compensation for the claims you will be waiving in signing the settlement agreement. If, following our advice, you are unhappy with the amount on offer we can negotiate on your behalf for an increase.
What Can Settlement Agreements Include?
This will vary depending on the individual circumstances but clauses typically deal with the potential claims to be waived, the amount of money an employee is due to receive and the detail of related tax implications. A confidentiality or gagging clause may also be written into the document.
We can negotiate on your behalf for the following:
- An increase in any tax-free sum on offer
- Shares, awards, equity
- Pay in lieu of your notice period
- An agreed reference
- An agreed leaving statement and/or press release
- The waiving of restrictive covenants in your contract
- Confidentiality and non-derogatory comments protection
- The option to keep company property (e.g. company car, laptop etc)
- Extension of certain specified benefits after termination
- Outplacement support
- Advice on post termination restriction and negotiating reductions
- Advice on long term incentives, shares schemes and good leaver status
Often employers will give a recommended list of law firms for you to get advice from on your settlement agreement. You should not feel obliged to go to a firm recommended by your employer. Many clients prefer to instruct us because we have no affiliation with their employer.
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