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Quick guide to settlement agreements for employers Many employers use settlement agreements (they used to be known as compromise agreements) to settle a dispute with their employee or wrap up the legal aspects of ending their employment. This could be because the employer wants to dismiss the employee without following a fair process, because they want to be sure that they’re not going to end up in a court or employment tribunal if they go ahead with the dismissal, or just because they want to offer the employee some extra money and they want something back in exchange. Using a settlement agreement will allow you and your employer to come to an agreement about how and when your employment will end, what you will get and any other arrangements you agree to. All settlement agreements are different, but here are a few things you’ll usually come across in a settlement agreement: • Your reason for leaving • When you leave and what will happen if this is not immediate • How much you will get paid • Tax and a tax indemnity • Return of company property • Mutual non-derogatory clauses • Job reference • Time limits for payment • Post-termination restrictions • Breach of settlement agreement • Bonuses, commissions and LTIPs • Legal fees • Waiver of claims • Confidentiality clause • A new job offer • Full and final settlement and negotiation For more information get in touch today or click the link below to read the full insight.