WHY GLOVERPRIEST?
A Settlement Agreement is a legally binding agreement between you and your employee. The agreement will end your employee’s contract with you and also waive their right to take you to an employment tribunal at any stage after the settlement agreement has been signed.
Benefits of using a Settlement Agreement for you as the employer include;
- Allows a clean break in the employment relationship
- Speedy, efficient and practical way of ending the employment relationship between you and your employee
- It binds an employee with further obligations such as confidentiality which a tribunal cannot enforce.
Before offering an employee a Settlement Agreement, you should identify the risk of any future claims. Employees will still be able to bring a claim against you in the following, limited circumstances:
- Where the employer breaches any term of the agreement
- For personal injury that the employee is not aware of, or could not reasonably be aware of at the date of signing the agreement; and
- In relation to their accrued pension rights.
How we can help;
- Draft a Settlement Agreement for you
- Ensure you are protected
- Advise you on the terms of Settlement Agreement
- Negotiate a fair settlement agreement with your employee
A properly worded Settlement Agreement, drafted by one of our expert solicitors, will mean that you have peace of mind as your former employee will not be able to bring any claims against your company.
