settlement

Settlement or compromise agreements

One of the hardest aspects of the whole Covid-19 period is the long shadow it has cast over so many businesses and livelihoods.

Without wishing to sound too pessimistic, unless the Chancellor can find a suitable carry-forward arrangement to protect jobs when the furlough scheme expires at the end of October 2020, we could well see a wave of redundancies.

If you find yourself in the unhappy position of being laid off then you may be invited to an ‘off the record’ discussion at which your employer raises the issue of a settlement or compromise agreement.

You might be asked to sign a settlement agreement in exchange for an additional payment or other benefits. However, this is not always as straightforward a process as it sounds and we would recommend that to protect your best interests, you seek professional advice.

Employers usually provide a contribution to legal fees. In most cases, the employers’ contribution to legal fees would normally cover all our fees. We would raise an invoice in your name but mark it payable by your employer as part of the settlement and would send this directly to the employer.

While we would be happy to speak to you in person at our offices, which we maintain in a secure condition, you may be more comfortable dealing over the phone or video platform such as FaceTime or Zoom.

We will need copies of the draft settlement agreement, your employment contract if you have one and any related documents. We will also need to check your identity and place of residence, so please make available your driver’s licence or passport and a utility bill or bank statement showing your current address.

Our specialist solicitor John Lennon is highly experienced in settlement agreements, including signing off and advising on them.

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