Compromise Agreements Solicitors & Lawyers » Termination Date

Employment Lawyers – Compromise Agreements – Offer made by Employer

admin — Fri, 23 Jul 2010 07:17:23 +0000

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 employment lawyers are seeing are failing to appreciate the importance of their oiffer. At this stage it is only an offer and the offer could be withdrawn if you intend to and fail to accept it by the prescribed time.

If you require further information please contact us at enquiries@rtcooperssolicitors.com or visit one of the following pages on employment law:

© RT COOPERS, 2010. This Briefing Note does not provide a comprehensive or complete statement of the law relating to the issues discussed nor does it constitute legal advice. It is intended only to highlight general issues. Specialist legal advice should always be sought in relation to particular circumstances.

Compromise Agreements Employment Law – Employment Lawyers London

admin — Mon, 05 Jul 2010 17:09:04 +0000

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 a policy of insurance, or an indemnity provided for members of a profession or professional body, which covers the risk of claims by the employee in respect of any loss arising in consequence of such advice that I have given to the employee in connection with the terms and effect of this Agreement.”

If you require further information please contact us at enquiries@rtcooperssolicitors.com or visit one of the following pages on employment law:

Employment law Advice For Employers, Redundancies, Compromise Agreements – Offer of Employment

admin — Fri, 02 Jul 2010 17:20:36 +0000

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 details of the offer as it considers reasonably necessary to apply the terms of the signed compromise agreement.

If you require further information please contact us at enquiries@rtcooperssolicitors.com or visit one of the following pages on employment law:

Employment Lawyers Compromise Agreements – Severance Compensation – PILON

admin — Sun, 13 Jun 2010 09:18:23 +0000

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 up to 12/18 months salary] as compensation for loss of employment and in respect of the employee claims, less such deductions for tax and employee National Insurance contributions as are required by law. This compensation is inclusive of a statutory redundancy payment of £[minimum statutory payment]calculated as follows: £380 gross weeks’ pay x [number of years] complete years’ service x [x] age multiplier.
In addition, the employer shall pay the employee the sum of £[contractual notice period] in lieu of the employee’s contractual notice period, less normal deductions for tax and National Insurance contributions.

If you require further information please contact us at enquiries@rtcooperssolicitors.com or visit one of the following pages on employment law:

Employment Lawyers London – Employment Solicitors – Compromise Agreement Solicitors London

admin — Wed, 02 Jun 2010 12:33:21 +0000

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 a compromise agreement to state that an employee’s employment will terminate “due to capability”, where this assertion might be contended by the employee, so it is important that an employee attempts to negotiate such expressions out of the compromise agreement as this could have an adverse effect on the employee’s endeavours to secure subsequent employment. The reason being that an employer could refer to this reason for leaving in the employee’s reference.

If you require further information please contact us at enquiries@rtcooperssolicitors.com or visit one of the following pages on employment law:

Employment Lawyers – Purchase of Company Car – Compromise Agreements

admin — Mon, 10 May 2010 21:51:35 +0000

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 date not later than one month after the Termination Date, after which it will lapse.”

If you require further information please contact us at enquiries@rtcooperssolicitors.com or visit one of the following pages on employment law:

Employment Lawyers – Post Termination Provisions

admin — Wed, 05 May 2010 18:03:48 +0000

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 you require further information please contact us at enquiries@rtcooperssolicitors.com or visit one of the following pages on employment law:

Compromise Agreements – Termination Payments including Payment in lieu of Notice

admin — Sun, 25 Apr 2010 20:31:08 +0000

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 pages on employment law:

Employment Lawyer – Termination Payment – Compromise Agreement – Redundancy Payments

admin — Thu, 25 Mar 2010 05:30:06 +0000

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 payment is made without any admission of liability on the part of the employer.

The employee on the other hand will have to give certain warranties (see warranties section in this blog).

If you require further information please contact us at enquiries@rtcooperssolicitors.com or visit one of the following pages on employment law:

Employment Lawyers – Handover

admin — Mon, 22 Mar 2010 21:48:00 +0000

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 shall ensure that prior to the Termination Date that the employee’s paperwork and other tasks are in good order and that a smooth transition of the employee’s responsibilities can be effected to any other colleague(s).”

If you require further information please contact us at enquiries@rtcooperssolicitors.com or visit one of the following pages: