One solution for an employer and employee to negotiate an exit is with a settlement agreement.
A settlement agreement is a legally binding contract which allows an employee to receive compensation (sometimes free of tax) in return for waiving a claim in the Employment Tribunal. This is often a useful tool in circumstances when the relationship between the parties breaks down or when an employee.
Settlement agreements are no stranger to us. We advise on hundreds of settlement agreements (formerly called /compromise agreements’) each year. Our job is to explain the terms of the settlement agreement to you in plain English and advise you of the options that are available to you and liaise with your employer directly on your behalf to negotiate the best settlement terms possible where appropriate.
The general rule is that your costs associated with receiving advice on the settlement agreement will be covered by the employer.
For further advice call Roy Magara on 0118 955 9607 or email him at email@example.com