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What is a compromise agreement?
A ‘compromise agreement’ is a legally binding agreement following the termination of your employment. It usually provides for a severance payment by your employer, in return for which you agree not to pursue any claim you may have to an employment tribunal. Quite often, the compromise agreement will also deal with the notice element in your contract of employment and may provide for an additional payment or other benefits.
You must have the compromise agreement explained by an independent solicitor before the agreement becomes binding, in which case Morgan & Pope Solicitors would be delighted to assist.
The solicitor giving the advice must also sign the agreement and certify that the appropriate advice has been given.
We can represent you in negotiations with your employer about the terms of the compromise agreement, including the financial compensation, ensuring that you defend your rights through what can be a highly complex process.
We can also advise you on the specific terms of the compromise agreement, ensuring that you understand the limits that it will be likely to impose on any future employment tribunal claims you might make. We have an excellent track record of negotiating successful outcomes for our employee clients with compromise agreements.
In most cases where we assist with compromise agreements, the employer’s contributions covers all our fees so our client doesn’t have to pay anything. We will make out an invoice in your name but this will be payable by your employers as part of the settlement, so we will send this directly to them.
- Written by Charlotte
- Category: Employment Law
- Created: 07 March 2012