Settlement Agreements are essentially a way for you and your employer to “part company” on certain agreed terms. Under the terms, you will give up your right to bring any claims against your employer. Settlement agreements can also be used to terminate your employment and can settle an on going claim you are bringing in a court or employment tribunal. Both you and your employer are able to suggest a settlement agreement.
Many different names and terms are used for them; termination agreements, compromise agreements, mutually agreed resignation terms, ex-gratia payments and golden goodbyes. The proper legal term is settlement agreements.
The cost of an employee obtaining advice on a settlement agreement is normally met by your employer.
Here at Laker Legal Solicitors we have Solicitors available in Bath, Lancaster, Kendal, Preston, Manchester, London, Maidstone and Kings Hill who can assist you. Please simply contact us to discuss your matter.