CHRIS THOMPSON Tel: +44 (0) 7920218216. Email:chris@christhompsonlaw.com
INDEPENDENT EMPLOYMENT LAWYER
Settlement Agreement Solicitor
Clear, practical advice on settlement agreements for employees and senior executives. I provide legal advice on the terms of your agreement, explain what it means in plain English and, where appropriate, negotiate improvements to the financial package and other terms.
Do I need a solicitor for a settlement agreement?
Yes. To enter into a legally binding settlement agreement, you must receive independent legal advice from a relevant independent adviser, usually a solicitor. I will explain the terms and effect of the agreement, advise you on the claims you are agreeing to waive and identify any provisions that should be changed or negotiated.
What should I look for in a settlement agreement?
The financial package is important, but so are the other terms of the agreement. I will review issues such as notice pay, holiday pay, bonus or commission, benefits, tax, references, confidentiality and any restrictive covenants, and identify anything that should be changed or negotiated.
Can I negotiate a better settlement agreement?
Yes. You do not have to accept the terms initially offered by your employer. Depending on the circumstances, there may be scope to negotiate an improved financial package or better terms relating to notice pay, bonus, commission, benefits, references, restrictive covenants or other provisions. I can advise you on whether the offer is reasonable and, where appropriate, negotiate with your employer or their solicitor on your behalf.
How much does settlement agreement advice cost?
Employers will usually make a contribution towards the cost of obtaining independent legal advice on a settlement agreement. Often that covers all fees. I will confirm the cost with you before carrying out any work. Where the agreement requires significant negotiation or additional advice beyond the employer’s contribution, I will discuss this with you before any additional costs are incurred.
Settlement agreements for senior executives
Settlement agreements involving senior executives can be more complex, particularly where remuneration includes bonuses, commission, share options or other incentives. There may also be important issues concerning restrictive covenants, confidentiality, announcements, references and future employment. I advise senior employees and executives on exit terms and, where appropriate, negotiate directly with employers and their solicitors to achieve the best possible overall outcome.
Need advice on a settlement agreement?
If you have been offered a settlement agreement, I can review it, explain the terms clearly and advise you on whether anything should be changed or negotiated. Contact me for an initial discussion about your agreement and the next steps.