A Settlement Agreement is a binding legal document between an employee and their employer. They are usually presented to employees when termination of their employment is impending for one reason or another. The document will record the terms of departure including any requirements of the employee and employer. Both parties must be happy with the terms recorded or they should not sign.
This may then require some negotiation between the parties to ensure that they are happy to sign, which we will be happy to undertake if necessary. Even if no negotiations are required, the settlement agreement will still need to be overseen by a solicitor to ensure that the employee has received independent legal advice and to make certain that the employee is made fully aware of their rights and the effect of the agreement.
In addition, the settlement agreement must be compliant with the Employment Rights Act 1996 so this will need to be checked. The employer should contribute towards the employee’s legal costs.