If you ever find yourself in a situation where your employment is at risk, you will understand the very acute fear and anxiety that that creates. You may even have been presented with a compromise agreement (also known as a settlement agreement) to try to close off your employment. We are used to sitting down with the document and advising you based on any vulnerabilities in the employer’s position, for you to consider what to do next.
In essence, the document usually provides for a payment of all monies due such as notice pay, outstanding wages, and expenses, in addition to a compensation amount. The compensation amount is often based on the employee’s statutory redundancy entitlement with some enhancement; the level of enhancement usually depends on the specific circumstances.
In Ludgate Hill EC4 Andrew’s firm advised many staff with compromise/settlement agreements exiting from various City banks, including dealing with background share options and bonuses. If you are in the situation of a possible exit whether from a bank, financial institution or any other business, you can ask us for a first opinion of the offer to you, and take things from there.
We can also help businesses to tailor employees terms and conditions, employee handbooks, grievance and disciplinary procedures. We have experience in successfully carrying out redundancy and grievance processes on behalf of businesses. Where an employment claim is brought against a business we can act for the business in defence of that claim.