Settlement Agreements

Mincoffs’ employment team are highly qualified to advise employees on settlement agreements.

Settlement agreements (formally known as ‘compromise agreements’) are legally binding contracts between an employer and employee that are usually entered in to upon termination of employment.

The aim of a settlement agreement is to set out the terms of termination in a way that protects the employer against further legal action by the employee, but also guarantees the employee an agreed compensation amount in return for signing.

Employees who have been presented with a settlement agreement (sometimes referred to as ‘severance’ or a ‘redundancy agreement’) are required by law to seek independent legal advice before signing any agreement.

If you have been presented with a settlement agreement, our expert employment lawyers can advise you on:

• Your statutory rights and whether you have grounds for an unfair dismissal claim or employment tribunal
• The terms set out in your agreement and their effect
• The appropriate level of compensation
• Negotiation of the agreement terms/package

In the majority of cases, the cost of legal advice for employers who have been presented with a settlement agreement is covered by their employer, so you personally may not have to pay for your advice.

If you would like to speak to one of our specialist employment solicitors about any aspect of settlement agreements, do not hesitate to call us on 0191 281 6151 or email Nick Smith, head of employment, on nsmith@mincoffs.co.uk