Our specialist employment law solicitors have many years’ experience of securing the best terms for settlement of employment claims
Get confidential legal advice
From our friendly employment law team
Settlement Agreements are currently the most commonly used method to bring your employment to an end.
If your employer is proposing that you should sign a Settlement Agreement, it is vital that you seek legal advice from a specialist employment solicitor at the earliest opportunity.
Nowadays, settlement agreements are the most widely used method to bring someone’s employment to an end. A properly constructed and negotiated Settlement Agreement allows both employer and employee to part on terms that are amenable to both parties.
It is increasingly common for employment relationships to end through a settlement agreement. However, despite this, settlement agreements are complex, lengthy legal documents which require expert advice to ensure that you receive a fair deal and protect your future employment prospects. Our employment law solicitors specialise in advising clients on the content of Settlement Agreements, as well as re-negotiating unfavourable terms with employers.
In most cases our costs will be covered by the contribution to your costs which is agreed as part of the settlement.
Call us now on 0151 239 1000 or complete the enquiry form at the top of this page and we will get back to you as soon as possible.
Why is it important to get advice from an Employment Solicitor?
Settlement agreements have to address every element of an employee’s contract of employment as well as any other benefits enjoyed by the employee. A well structured settlement agreement will allow the employee to leave their current employment, safe in the knowledge that their contractual benefits, pensions and, if applicable, share options will be protected and with the peace of mind that restrictive covenants or taxation will not impact adversely their future ambitions.
If your employment relationship is coming to an end, for whatever reason, it is vital that you seek legal advice at the earliest opportunity. By instructing an employment lawyer at Canter Levin & Berg, you can ensure that you get the best possible terms in your settlement agreement, allowing you to achieve not only enough remuneration to ease the transition from one position to another, but also giving you a measure of security for the future.
We can advise you on the effect of the terms on your benefits, bonuses, share options, restrictive covenants, taxation and remuneration. We can also provide you with advice and representation during any negotiations with your employer so that at all times, you will know what you stand to gain from the agreement and also the compromises you have to make.
What will my Settlement Agreement cover?
When receiving advice on your settlement agreement, you should discuss the terms your employer is offering with your solicitor before you sign the Agreement. It is important that your settlement agreement covers, as far as is possible, what will happen to any bonuses you may have been eligible for as well as other benefits your employer may have provided, such as a company car, a mobile phone, medical insurance and a company pension.
Your solicitor will also make sure the agreement addresses what will happen to any shares you hold in your employer’s business, or any share options. If you signed up to a life assurance policy through your work your settlement agreement should cover what will happen to this policy after you leave employment, and also what will happen to any holiday pay you might be entitled to for holidays you have not yet taken or will not be able to take before your current employment comes to an end.
Whilst it will not apply to all employees, a Settlement Agreement can address what, if any, public comments your employer will make when you leave their employment. This can include agreeing the text of any press releases mentioning your departure, or comments made by your employer or their representatives to the media or to industry publications.
Lastly, your solicitor will make sure that your settlement agreement mentions your tax liabilities, as any monies you receive from your employer as part of your settlement agreement may be treated differently for tax purposes than if the money had been paid out as part of your salary. This also includes situations where your employer makes a payment in lieu of your contractual notice period; as such a payment may be made tax free.
Legal advice and representation from employment solicitors
If your employer has indicated they wish to end your employment through the use of a Compromise Agreement or Settlement Agreement, call the employment solicitors at Canter Levin & Berg today on 0151 239 1000 or complete the enquiry form at the top of this page and we will get back to you as soon as possible.
Head of Employment Law
0151 239 1079