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Compromise Agreements
A compromise agreement is a legally binding agreement sometimes offered to you by your employer following the termination of your employment.
It usually provides for a severance or ex-gratia payment over and above your contractual entitlements to be paid to you by your employer in return for which you agree not to pursue any claim you may have to an employment tribunal/ court.
Employers are increasingly using compromise agreements as a popular mechanism to agree terms of termination of employment to prevent possible future complaints to a tribunal, especially in redundancy situations. In order for compromise agreement to be legally binding however you must receive independent legal advice on the terms and effect of the agreement.
If you are offered a compromise agreement, you should take independent legal advice on the agreement as soon as possible.
Careful thought will need to be given to the terms of the agreement including:
- The amount of any severance/ex-gratia payments
- Tax, pensions and payment dates
- Shares and share options
- Post-termination restrictive covenants
- Agreed reference
- Announcements (internal and external)
- Confidentiality
- Legal Fee contribution
Our employment specialists are able to ensure that the wording of the agreement is adequately drafted in order to provide you with the necessary protection you require and assist in negotiating the terms for all employees at all levels of seniority. Our employment specialists can advise you on any potential claims you may have and can negotiate the best compensation package in the circumstances.
We are experienced in dealing with severance agreements ranging from relatively routine pre-agreed settlements, to negotiating and advising on complex high value settlements.
If you require assistance please contact our employment team on employment@howell-jones.com or 020 8549 5186 or complete the on-line enquiry form.
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Online services...
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Request for Howell-Jones' specialist employment team to estimate for reviewing and advising upon a compromise agreement
Please use this facility to ask our specialist employment team to contact you to discuss providing advice and assistance on a compromise agreement. They will either telephone or e-mail you and this first step will be free and without obligation.
