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Compromise Agreement Solicitors

In the volatile economic climate of the 21st century, redundancy, dismissal and resignation are, for many, often just around the corner. They can raise specific legal issues which are often dealt with in a special type of contract known as a Compromise agreement.

Compromise Agreements

What is a Compromise Agreement?

A Compromise agreement is a contract that brings a term of employment to an end and sets out the rights and duties of both sides. Even though businesses and employees alike can find them beneficial, they should not be entered into lightly, as if unchecked you could suffer financially or be restricted in a future job. We would always advise that a solicitors looks over it for you before you sign it to ensure you understand all the clauses contained within it and fully understand the financial package you are being offered.

What should a compromise agreement include?

A compromise agreement will differ according to the specific job and market you work in, however the following shows some of the generic issues that may need to be addressed.

  • The calculation of bonuses
  • Consideration of notice pay
  • The protection of pension contributions
  • Ensuring non-compete clauses are reasonable and enforceable
  • The impact new employment will have on the agreement
  • Ensuring the terms of the agreement are fair

Who pays for a compromise agreement?

In most cases the business will pay your legal fees to have the compromise agreement checked and edited, if necessary, by a solicitor.

Why use Routh Clarke for your compromise agreement?

Nick Routh has helped many clients with their compromise agreements, to ensure they are fair and covered every angle of their employment package. He combines a considerable understanding and application of employment law with first-hand experience of the workplace and employee contracts.