Have You Been Offered A Settlement Agreement?
A Settlement Agreement is an agreement with your employer which (usually) brings an end to your employment. It is commonly used in a redundancy situation or to settle an unfair dismissal claim. It can also be used to settle a grievance claim and allows your employment to continue.
What Is In A Settlement Agreement?
If you are being made redundant, the Settlement Agreement document will contain details of the proposed severance package such as the redundancy payment, any ex gratia payment, and payments in lieu of notice. If you have at least two years’ continuous employment at the point you are made redundant, then you are entitled to a redundancy payment.
The document will also have confidentiality terms, a requirement to return your employer’s property (such as a laptop or phone), and possibly an agreed reference.
Your employer must offer to contribute to your legal fees in taking advice on the Settlement Agreement. It is important to take advice, because once the agreement is signed, you will not be able to bring an employment-related claim against your employer.
It is important to take advice about a particular set of circumstances. Call us today to discuss your situation and how we can help.
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