Settlement Agreements.
Settlement agreements are often used to end an employment relationship when an employer and employee feel their professional relationship is no longer working and need to part ways.
My employer is offering me a settlement agreement. What should I do?
If you’ve been offered a Settlement Agreement by your employer, it’s important to make sure you take legal advice. Taking legal advice with Holden Smith means our expert team will work with you for every step to ensure you understand - and are satisfied with - the terms of the agreement.
Why is it important for me to take legal advice?
When you sign your settlement agreement, there will be limitations in place on the claims you can make once the agreement is in place.
Our expert team will discuss any potential claims you may wish to make, as signing the settlement agreement usually prevents you from making most claims once you’ve signed.
There are however exceptions, including claims for accrued pension rights, claims for future personal injury that you are not aware of, or any claim in relation to the enforcement of the Settlement Agreement.
Taking legal advice with Holden Smith will ensure you achieve the best possible outcome.
Why does my Settlement Agreement feel overwhelming and look complicated?
We understand that Settlement Agreements can feel overwhelming and be difficult to understand.
We will work with you for every step. We will explain the Agreement to you in easy-to-understand language and break down the legal jargon, so you completely understand the Agreement and its consequences before signing.
Are Settlement Agreements bad?
Unfortunately, Settlement Agreements can carry a negative perception. Some people may assume there has been a break down in relationship between employer and employee, but that is not necessarily always the case.
It may be that your employer is required to downsize or is restructuring and has offered a beneficial package for voluntary redundancy and you have decided to accept the offer.
When do I have to decide whether to accept a Settlement Agreement?
If you have received a Settlement Agreement, your employer will probably have given a deadline for you to accept and sign it.
This means it’s important to speak to a solicitor as soon as possible to discuss your Agreement and what it means for you.
Also, it’s common for your employer to contribute to your legal advice, either partially or in full, which we can support you to sort out.
