Usual terms of a compromise agreement
Most compromise agreements are fairly standard, with the agreement covering:
- the amount of compensation to be paid
- confirmation of any tax free payments
- holiday entitlement pay
- restrictive covenants on any future employment
- confidential matters, such as trade secrets and the terms of the agreement
- any assurances given by the employer and/or employee
- the reference that will be given by the employer
- a list of claims which the employee agrees not to bring eg. Unfair dismissal etc
- a legal advisers certificate to be signed by a solicitor confirming that you have been fully advised as to the legal consequences of signing the agreement
More about Compromise Agreements...
- What is a compromise agreement?
- Usual terms of a compromise agreement
- Compromise Agreement: How much should I get?
- Is the compromise agreement compensation negotiable?
- Compromise Agreement: How much will it cost me?
- Redundancy Compromise Agreements
- Compromise Agreement Tax
- Compromise Agreement Signing Urgently by a Solicitor