Q. What is a Settlement Agreement?
If you have been made redundant or you are in the process of losing your job it is likely that your employer will ask you to sign a Settlement Agreement (previously known as a Compromise agreement).
At Pearce West Employment Solicitors Jonathan West has acted for literally hundreds of employees in Reading, Oxford and over the Thames Valley in this position and is extremely experienced in advising and negotiating for you on the terms on Settlement Agreements, including often negotiating with your employer for a higher payment than was originally proposed.
Settlement Agreements set out the terms that have been agreed between you and your employer on termination of your contract of employment. The idea is that the agreement will be a final settlement of all claims in connection with the termination of your employment; or in other words a 'clean break'.
Q. What is in a Settlement Agreement?
Certain clauses must be contained in a Settlement Agreement. Typical clauses can include...
- Payment: This clause will state how much you will receive on termination of your employment. The money may include compensation for loss of employment, unpaid holiday, bonuses etc.
- Full and final settlement: This is the 'clean break' part and will state that once your employer has paid the amount under the agreement you cannot bring a claim against your employer except in respect of accrued pension entitlements and personal injury.
- Independent legal advice: The Settlement Agreement will state that you have received advice from an independent advisor who holds an insurance policy.
Q. Do I need Independent Advice?
You must receive independent legal advice from a qualified solicitor. Jonathan West is a properly qualified lawyer to be the Independent Solicitor for Settlement Agreements, and from our offices in Oxford and Reading handles these negotiations for clients across the Thames Valley and Southern England.
Q. How much will it cost me?
Under the agreement your employer should usually pay all, or most, of your legal fees to us in addition to the compensation they pay to you.
Why choose Pearce West?
Jonathan West has 36 years experience helping resolve employment claims for people across the Thames Valley and South East England.
We have vast experience in advising clients on Settlement Agreements with their employers. We offer clients a supportive and expert advisory service. Very often our advice leads to better financial terms being offered to clients by their employers.
No Win - No Fee
In many cases when you have a valid employment claim to the Employment Tribunal for Unfair Dismissal, Constructive "no win – no fee" basis.
In other words, we take the case on and if you win the case we charge you a fixed % of what you get from your former employer (either at Tribunal or through a settlement). If you lose your case we do not charge you a penny – so you can have the peace of mind of not having to lose any of your money on bringing a claim!
If we are not able to offer a "no win – no fee" arrangement we can bring a claim to the Employment Tribunal on a fee-paying basis, and we are always happy to work within agreed fee-budgets which goes to ensure that you keep control on legal costs as the case progresses.