If you are an employee, our employment lawyers cant stress enough how important it is to take independent legal advice as early as possible from emoployment solicitors and not to delay especially if your employer has given you a date by which to accept the offer and return your signed compromise agreement. A number of employees that our [...]
Entries Tagged as 'Termination Date'
Employment Lawyers – Compromise Agreements – Offer made by Employer
July 23rd, 2010 · No Comments · About Compromise Agreement Blog, Compromise Agreement Solicitor, Compromise Agreement Solicitors, Compromise Agreements, Employment Lawyers, Employment Solicitors, Offer from your employer, Payment in Lieu of Notice, Redundancy, Redundancy Pay, Signing Compromise Agreements, Termination Date, Termination Payment
Tags: Employment Lawyers - Compromise Agreements - Offer made by Employer
Compromise Agreements Employment Law – Employment Lawyers London
July 5th, 2010 · 1 Comment · About Compromise Agreement Blog, Adviser's Certificate in Your Compromise Agreement, Choosing an Independent Legal Advisor to provide Advice on the Terms of your Compromise Agreement, Compromise Agreement Solicitor, Compromise Agreement Solicitors, Compromise Agreements, Employment Lawyers, Employment Solicitors, Redundancy, Redundancy Pay, Settlement Payment, Severance Pay, Signing Compromise Agreements, Termination Date, Termination Payment, Termination of Employment, Your Compromise Agreement is a Binding Contract
An employee is required to obtain independent legal advice. The adviser is required to give a warrant (in most cases) along the lines that:-
“ I also warrant and confirm that I am a solicitor of the Supreme Court, who holds a valid practising certificate and whose firm, [insert solicitor's firm's name and address], is covered by [...]
Tags: Compromise Agreements Employment Law - Employment Lawyers London
Employment law Advice For Employers, Redundancies, Compromise Agreements – Offer of Employment
July 2nd, 2010 · No Comments · About Compromise Agreement Blog, Compromise Agreement Solicitor, Compromise Agreement Solicitors, Compromise Agreements, Employment Lawyers, Employment Solicitors, Job Offer during consultation period, Offer of Employment, Post Termination Restrictions after Signing a Compromise Agreement, Redundancy, Redundancy Pay, Settlement Payment, Severance Pay, Signing Compromise Agreements, Statutory Redundancy Pay, Termination Date, Termination Payment, Termination of Employment
Where senior executives have been paid handsomely, they are usually required to sign a compromise agreement in which they would have to, for a period of twelve (12) months following the Termination Date, undertake to notify the employer when an offer of alternative employment has been made and agree to provide the employer with such [...]
Tags: Compromise Agreements - Offer of Employment·Employment law Advice For Employers·Redundancy Solicitors
Employment Lawyers Compromise Agreements – Severance Compensation – PILON
June 13th, 2010 · 2 Comments · About Compromise Agreement Blog, Choosing an Independent Legal Advisor to provide Advice on the Terms of your Compromise Agreement, Compromise Agreement Solicitor, Compromise Agreement Solicitors, Compromise Agreements, Employment Lawyers, Employment Solicitors, National Insurance Contributions, Payment Terms, Payment in Lieu of Notice, Redundancy Pay, Settlement Payment, Severance Pay, Statutory Redundancy Pay, Taxation, Termination Date, Termination Payment, Termination of Employment, Your Compromise Agreement is a Binding Contract
We are receiving a number of enquiries where employers are only offering employees Payment in Leiu of Notice (PILON) as their compensation for loss of employment.
Typically employers are paying Severance Compensation as follows:
The employer will on its own behalf, and on behalf of all its associated companies, without any admission of liability whatsoever pay the employee £[anything [...]
Tags: Employment Lawyers Compromise Agreements - Severance Compensation - PILON
Employment Lawyers London – Employment Solicitors – Compromise Agreement Solicitors London
June 2nd, 2010 · 5 Comments · About Compromise Agreement Blog, Compromise Agreement Solicitor, Compromise Agreement Solicitors, Compromise Agreements, Contract of Employment, Dismissal Before the Termination Date, Employment Lawyers, Employment Solicitors, Reason for Leaving, Redundancy, Reference, Restrictive Covenants, Termination Date, Your Compromise Agreement is a Binding Contract
An employee must ensure that any reason given by an employer in a compromise agreement for the employee leaving his/her employment is accurate.
Commonly, compromise agreements will say “your employment shall terminate on the Termination Date by reason of redundancy” or “your employment shall terminate on the Termination Date by mutual agreement”. It is not unheard of for [...]
Tags: Employment Lawyers London - Employment Solicitors - Compromise Agreement Solicitors London
Employment Lawyers – Purchase of Company Car – Compromise Agreements
May 10th, 2010 · No Comments · About Compromise Agreement Blog, Company Car, Compromise Agreement Solicitor, Compromise Agreement Solicitors, Compromise Agreements, Consultation, Employment Lawyers, Offer from your employer, Signing Compromise Agreements, Termination Date, Termination Payment, Termination of Employment, Your Compromise Agreement is a Binding Contract
A number of senior management (when facing redundancy/dismissal) have been given the option bytheir employers to purchase their company cars . The terms of the purchase will be included in the employees’ compromise agreements:
“You may purchase the company car at a value specified by the Employer’s [ ] department. This option is exercisable in writing by you by the [...]
Tags: Employment Lawyers - Purchase of Company Car - Compromise Agreements
Employment Lawyers – Post Termination Provisions
May 5th, 2010 · 7 Comments · About Compromise Agreement Blog, Compromise Agreement Solicitor, Compromise Agreement Solicitors, Compromise Agreements, Contract of Employment, Dismissal Before the Termination Date, Employment Lawyers, Keeping the Terms of your Compromise Agreement Confidential, Post Termination Restrictions after Signing a Compromise Agreement, Restrictive Covenants, Termination Date, Termination Payment, Termination of Employment, Your Compromise Agreement is a Binding Contract
Post Termination Obligations
When senior executives are leaving a company, the company may add additional clauses to their compromise agreements to ensure that they are bound. A typical clause would be
“You acknowledge that you will continue to be bound by the terms of your employment contract in relation to Confidentiality, Intellectual Property, Inventions and Patents and Post-Termination Obligations.”
If [...]
Compromise Agreements – Termination Payments including Payment in lieu of Notice
April 25th, 2010 · No Comments · About Compromise Agreement Blog, Compromise Agreement Solicitor, Compromise Agreement Solicitors, Compromise Agreements, Employment Lawyers, Payment Terms, Payment in Lieu of Notice, Payment of Legal Advisers, Payment of Normal Salary, Redundancy Pay, Settlement Payment, Statutory Redundancy Pay, Termination Date, Termination Payment, Your Compromise Agreement is a Binding Contract
Employees should pay particular attention to ex-gratia termination payments which are stated to include compensation for failure to give the employee the full contractual notice (of termination), due to the tax implications in respect of the contractual notice payment element.
If you require further information please contact us at enquiries@rtcooperssolicitors.com or visit one of the following [...]
Tags: Compromise Agreements – Termination Payments including Payment in lieu of Notice
Employment Lawyer – Termination Payment – Compromise Agreement – Redundancy Payments
March 25th, 2010 · 1 Comment · About Compromise Agreement Blog, Compromise Agreement Solicitor, Compromise Agreement Solicitors, Compromise Agreements, Necessity for Legal Advice on the Terms of Your Compromise Agreement, Payment Terms, Payment in Lieu of Notice, Redundancy, Redundancy Pay, Settlement Payment, Signing Compromise Agreements, Statutory Redundancy Pay, Termination Date, Termination Payment, Termination of Employment
High earning top executives are definitely receiving higher pay outs. Such employees termination payment would typically comprise::
An amount as a redundancy payment (including a statutory redundancy payment (“Redundancy Payment”);
An amount as compensation payment for loss of notice of the Employee’s notice period (“Notice Compensation Payment”); and
An amount as compensation for loss of employment (“ Ex Gratia Payment”);
This [...]
Tags: Employment Lawyer - Termination Payment - Compromise Agreement - Redundancy Payments
Employment Lawyers – Handover
March 22nd, 2010 · No Comments · About Compromise Agreement Blog, Compromise Agreement Solicitor, Compromise Agreement Solicitors, Compromise Agreements, Employment Lawyers, Handover, Termination Date, Termination Payment, Termination of Employment
Depending on an employee’s roles and responsibilities, the employee may have to do a formal hand over. In some cases this is also stated in the compromise agreement, not often. Off course the hand over will usually take place before the termination date. The provision in the compromise agreement will state for instance that:
“The employee [...]