Sometimes you will find that your relationship with your employee is not working. You may want to terminate their employment but don’t have time to follow a fair procedure or you want to avoid them bringing a claim at a later stage. You can do this by using a settlement agreement, which is a legally binding agreement to terminate their employment.
A settlement agreement will usually include the payment of a lump sum by way of compensation and may also include details relating to their pension, bonus, holiday and company car arrangements. It could include an agreed reference or an announcement to your staff or customers, and it occasionally has restrictive covenants to protect your business from competition after they leave.
Our experts will gather all the information to be able to advise you as to the appropriate amount of money to offer by way of compensation, and prepare the initial draft agreement for your employee. We can also help with the negotiation of terms or wording of the agreement.