redundancy, severance, agreement, settlement, solicitors, wills, matrimonial, contracts of employment, burton, derby
When it becomes the time for the boss and a member of staff to Part Company and there is an employment settlement or a redundancy payment, both sides may want to have the severance deal recorded in an employment Settlement Agreement.
A Settlement Agreement is an agreement which sets out the terms of the deal between employer and employee. The important matter is that if it is counter signed by an employment lawyer on behalf of the member of staff then the employer is protected against being taken to an Employment Tribunal. For that reason many employers will pay or contribute to the employment adviser's bill. If you are an employee make sure they make that offer!
The agreement is also vital to the potentially redundant employee to ensure that he gets proper severance pay and pays as little tax on it as possible. We can draw such agreements for employers and advise and approve them for employees. In the case of employees that advice is usually free to the employee.
If you would like us to look at your Severance Agreement, then please email it to us as an attachment by clicking [ HERE ]. In your email, please let us know contact details, your age, your start and proposed finish dates with your employer and your current salary. Alternatively ask your employer to email it direct. They will not mind that they want you to take advice.
Some useful facts:
WHAT IS A SEVERANCE AGREEMENT?
A severance AGREEMENT is a binding contract between the employer and employee agreeing the terms on which they part company and compromising (settling) any claim under Act of Parliament (a statutory claim) or under the employees Staff contract that might be made to an employment tribunal or court.
WHY IS A SEVERANCE AGREEMENT NECESSARY IN REDUNDANCY SITUATIONS?
Without it the employee can go to an employment tribunal (they used to be called industrial tribunals) and for both parties that can be expensive, time consuming and uncertain.
WHAT TERMS DOES A SEVERANCE AGREEMENT HAVE TO CONTAIN?
A severance AGREEMENT is only valid if it is:
- in writing
- Tailored to the individual case with details of the claim that might be made and the employee must be advised on the severance AGREEMENT by a relevant independent advisor. Samble Burton & Worth of Burton on Trent and Irvings solicitors of Derby are independent lawyers and relevant independent advisors.
LEGAL ADVICE- WHY DO I NEED A SOLICITOR?
The severance agreement is not valid unless you have had legal advice from an independent relevant advisor such as Samble Burton & Worth Burton on Trent and Irvings solicitors Derby.
HOW MUCH WILL IT COST ME TO SEEK LEGAL ADVICE?
Usually itís free. Often your employer will pay.
WHAT HAPPENS IF I AM NOT HAPPY WITH THE AGREEMENT?
You do not have to sign. We will tell you if we think you should consider a claim to a tribunal or to a court for breach of your employment contract.
WHEN WILL I RECEIVE THE AMOUNT DUE UNDER THE SEVERANCE AGREEMENT?
The severance agreement usually specifies this. You can still go to court to claim your money if your boss fails to pay.
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