Settlement Agreement Solicitors
We advise well over 100 employees on settlement agreements each year so we know our way around these agreements extremely well. We advise employees in all industries and sectors.
Our location in Holborn, Central London and track record means we have dealt with a lot of settlement agreements offered to banking and financial services employees, City workers generally and executives with complex remuneration packages such as stock options and bonuses.
We offer a rapid service and will review your settlement agreement and explain if the compensation offered is of an acceptable amount or could be improved.
Our employment lawyers have the experience to resolve related issues surrounding tax, share incentives and partnership and directorship. We are discrete but successful.
Settlement agreement costs
Usually your legal fees for our review are paid by your employer. Please do call us to discuss your position. We are always happy to scope a case for you.
Reasons to choose us for settlement agreement advice
We offer you a strong employee focused team of specialist employment solicitors who are qualified to advise and negotiate your settlement agreement and who have :-
- The experience to assess your situation quickly.
- Judgement on how to handle your position to best effect. Good at tactics.
- The confidence to deal with bully bosses and take on HR where appropriate.
Settlement/compromise agreements – should you sign or negotiate?
A settlement agreement is usually offered by an employer because the employer does not want to run the risk of a claim in the Employment Tribunal. Sometimes they are called compromise agreements but they amount to the same thing. In deciding whether you should sign the settlement agreement offered or seek to negotiate for a better deal there are various factors you should consider as we explain below.
How compensation is calculated
Compensation offered under a settlement agreement is usually made up of 3 parts:
- Contractual entitlements;
- Redundancy pay (if applicable); and
- Compensation for loss of employment or directorship – this is where there may be scope for negotiation.
Settlement/compromise agreement review service
Based on past experience, the core areas which could be important to you and which may require employment lawyer advice and attention include:
- Could the employer lawfully dismiss you without compensation? It is important to establish the risks.
- Is the employer trying to avoid paying a bonus or commission?
- Restrictive covenants post termination of employment
- Tax issues – if the settlement agreement is not drafted properly you may be paying extra tax and tax payable on payments made on termination of employment is not always straightforward.
- Securing share awards and options.
Why do you need a solicitor?
By entering into a settlement or compromise agreement for any reason you warrant that you have no claims against your employer. Therefore, any claims you could have must be considered before you sign the agreement.
In our position as independent solicitors, you are able to discuss any potential claims in full confidence. The list of claims that you will be required to waive under the redundancy settlement agreement (and any other type of settlement agreement) can run into pages. We break down down the terms and focus on what is important to you.
There is no going back once you have signed your settlement agreement. The settlement agreement provides for full and final settlement of all claims against the employer and money due to the employee.
Contact us today if you are en employee who needs a solicitor for your employment settlement agreement, especially if you are in Central London.