A settlement agreement is a written agreement where an employee accepts financial compensation in return for agreeing not to bring any claims against their employer. It is only valid if the employee receives independent legal advice on the settlement agreement.
A business may use a settlement agreement if they want to avoid the risks of dismissing someone or they do not want to go through a full dismissal process.
Due to the strict statutory requirements, it is important that you instruct an employment lawyer to ensure that the settlement agreement is legally compliant. If the agreement fails to comply with the legislation, the waiver within that agreement will be void for certain claims, meaning the ex-employee could still bring certain claims against the business.
Our experts have extensive experience in drafting, advising on and negotiating the terms of settlement agreements. Our in-depth knowledge means we can advise you on the most pragmatic and commercially sound way to terminate employees, so you can focus your time on running your business.
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Friday 19th February 2021
RESTRICTIVE COVENANTS: WHAT ARE THEY AND WHY DO YOU NEED THEM?
When an employee leaves, they are in a position to profit from your confidential information, either by divulging secrets to others or taking what they know and putting it into practice themselves. Restrictive covenants can stop this from happening. What are restrictive covenants? Restrictive covenants are restraints written into an employment contract that trigger as soon as a person leaves …
Thursday 11th February 2021
5 legal documents every digital start-up needs
For digital start-ups turning an idea into a commercially viable business can be a risky proposition. If you want to protect your investment in your business, then having the right legal documentation in place from the outset is essential. To help you hit the ground running, we have outlined below five legal documents that every digital start-up should have in …