Settlement agreements

Formerly known as a compromise agreement, settlement agreements are used to bring your employment to an end on mutually agreed terms. They often involve payment of a sum of ‘compensation’ by your employer, on the basis that you won’t bring any claims against them.

The agreement is a way to draw a line under everything that has gone before and for you and your employer to move on. Think before you sign though as there is no going back once you have accepted a settlement agreement.

Without independent legal advice the agreement will not be binding, so do come to speak to us for jargon-free advice. Employers often pay for, or contribute to, the cost of your legal advice, so there may be no cost to you.

Five Top Tips on Settlement Agreements in Altrincham

• Without independent legal advice the agreement will not be binding.
• The payment you receive may be subject to tax; normally the first £30k is tax free.
• Don’t tell everyone about your agreement. It is almost always a term of the agreement that you don’t discuss the existence of it, never mind the terms themselves.
• If you believe you have a claim against your employer, really think before you sign, there is no going back.
• Employers often pay for, or contribute to the costs for your legal advice – so there is no cost to you.

Reviewing and drafting employment contracts and consultancy agreements

Have you been offered a contract of employment or consultancy agreement?

It is crucial that you understand and are happy with the terms and conditions on offer. At Beswicks Legal we can review employment contracts or consultancy agreements on your behalf, helping you to negotiate any changes should your position need improvement.

We also advise on proposed amendments to existing contracts and provide legal representation if your contract has been breached.

Post-termination restrictions

Post-termination restrictions (sometimes known as restrictive covenants) prevent you from undertaking certain activities once you have left your employer.

Designed to protect the interests of businesses, restrictive covenants are typically imposed on senior employees and those with access to sensitive information or relationships. However, restrictive covenants can be a legal minefield and unless carefully drafted, may not be legally binding.

If you are unhappy about the restraints placed on you post-termination, we can advise on whether they are valid, and whether they are likely to be upheld. We can also support and represent you if you are being pursued over a breach of restrictive covenant.