Compromise Agreement Solicitors & Lawyers » Warranties

Employment Law, Compromise Agreement, Warranty, Shares, Bonuses, Share Options

admin — Fri, 28 Oct 2011 09:11:19 +0000

In some cases an employee may have to give a warranty in respect of not pursuing any claims regarding any shares, bonuses or share options after signing the compromise agreement. If an employee has any share options schemes or any shares in the employer company then this must be addressed either in the compromise agreement or in a side letter from the employer company.

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

© RT COOPERS, 2011. 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.

Employment Law, Compromise Agreements, Early Signing, Work out Notice, Warranty

admin — Fri, 14 Oct 2011 17:57:44 +0000

Sometimes employees are asked to sign a compromise agreement early and work out their notice periods, where they may have at least two to three months left before their termination dates. The usual practice is for the employers to ask the employees to sign additional warranties to cover the period from which the employees sign the compromise agreements to the termination date.

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

Lawyer Employment, Employee Rights, Voluntary Redundancy, Solicitors

admin — Fri, 04 Mar 2011 22:24:24 +0000

If you are an employee you should be aware of a warranty that may be included in your compromise agreement. The warranty would state that the employee confirms that the employee has not accepted an offer of employment. An employe is at risk of being in breach of the employee’s compromise agreement, if the empployee accepts an offer of employment prior to the termination of the employee’s existing employment.

Employment Lawyers – Outstanding Loans – Compromise Agreements

admin — Sun, 06 Dec 2009 18:52:58 +0000

We have done a large section on warranties see http://www.adviceoncompromiseagreements.com/category/warranties.

We also wanted to mention that an employer may ask you, as an employee, to give a warranty regarding the payment of outstanding loans to the company, if you owe the company money.

The warranty may be worded as follows:-

“ You warrant that there are no sums or loans outstanding from you to the Company or any other Group Company and there is no fact or circumstance under which any payment is due or could become due from the Company or any other Group Company to you other than under the terms of this Agreement.”

You would be required to give this warranty once the loans are paid off. Under no circumstances should you give this warranty if the loans are still outstanding.

Advice on Employment Law – Return of Property to Employers

admin — Mon, 16 Nov 2009 23:10:22 +0000

If you are an employee, your employer may ask you to give a warranty in your compromise agreement that before the Termination Date you will delete irretrievably any information relating to the business or business contacts of the Employer that you have stored on any magnetic or optical disk or memory of any personal electronic devices, including computers of any description, and/or mobile phones.

We have dealt extensively with warranties in this blog.

RT Coopers Solicitors can advise you in this regard. Contact enquiries@rtcooperssolicitors.com for a meeting or more specialist advice. We will give you an indication of our costs.

Warranties in Compromise Agreements Cont’d

admin — Fri, 10 Jul 2009 21:14:58 +0000

1. You have received independent legal advice on all and any claims that you might be able to bring against your Employer in the Employer Tribunal and the High Court/County Court in respect of your employment and termination of employment.

2. You further warrant you have reviewed such claims with the Independent Adviser and been advised upon the possibility of pursuing such claims and you waive your rights to pursue such claims)

i. You have received from the Independent Adviser independent legal advice as to the terms and effect of your compromise agreement and in particular as to its effect on your ability to pursue your rights before an Employment Tribunal in respect of each of the claims referred to in your compromise agreement (some of these rights are listed in previous entries under warranties); and
ii. At the time when the Independent Adviser gave advice to you in respect of the terms and effect of your compromise agreement, you were advised that there was in force a contract of insurance or an indemnity provided for members of a professional body in respect of any claim by you in respect of loss arising as a consequence of the advice given by the Independent Adviser.

Warranties in Compromise Agreements Cont’d

admin — Wed, 01 Jul 2009 22:27:32 +0000

2. You further warrant you have reviewed such claims with the Independent Adviser and been advised upon the possibility of pursuing such claims and you waive your rights to pursue such claims

3. You further warrant and confirm that:

i. You have no other complaints whatsoever against your Employer (except those referred to in the previous entries on warranties);

ii. You acknowledge that your Employer has agreed to pay the Severance Payment only on the strength of that warranty;

iii. Save in respect of claims relating to personal injury and pension rights (as explained in the earlier entries), you will refrain from presenting any complaint to an Employment Tribunal, County Court or High Court; and

iv. You will not present your Employer with any questionnaire, data subject access request or request under the Freedom of Information Act 2000 (if relevant) in relation to your employment or its termination or in relation to any other matter arising prior to the date of the Compromise Agreement except in respect of any breach or information which may come to light after the date of the Compromise Agreement.

More regulations in the next blog entry.

Warranties in Compromise Agreements Cont’d

admin — Wed, 24 Jun 2009 08:05:27 +0000

2. You further warrant you have reviewed such claims with the Independent Adviser and been advised upon the possibility of pursuing such claims and you waive your rights to pursue such claims. The warranties that we have discussed in this blog and which you will be required to give to your Employer, do not apply to the following:-

Any claim to enforce an Employee’s pension rights which have accrued up to the date of the compromise agreement under the Pension Scheme;
Any personal injury claim which an Employee is not aware as at the date of the compromise agreement; and
Any claim necessary to enforce the terms of the compromise agreement.

More regulations in the next blog entry.

Warranties in Compromise Agreements Cont’d

admin — Fri, 29 May 2009 21:32:29 +0000

i. Being subjected to a detriment under any section within Part V Employment Rights Act 1996; and

ii. Any other claim whether known or unknown to the parties and whether presently known in law (including for the avoidance of doubt any injury arising from alleged unlawful discrimination); and

ii. Any other claim whether known or unknown to the parties and whether presently known in law (including for the avoidance of doubt any injury arising from alleged unlawful discrimination arising out of the Employee’s employment and/or its termination).

More regulations in the next blog entry.

Warranties in Compromise Agreements Cont’d

admin — Sun, 24 May 2009 08:37:48 +0000

We are continuing with our discussion on warranties in compromise agreements. Our previous entries explain a number of warranties that you will have to give to your employer. One of the key warranties is that:You have received independent legal advice on all and any claims that you might be able to bring against your Employer in the Employer Tribunal and the High Court/County Court in respect of your employment and termination of employment.You further warrant you have reviewed such claims with the Independent Adviser and been advised upon the possibility of pursuing such claims and you waive your rights to pursue such claims, including but not limited to any claim for:

Any personal injury claim resulting from the Employee’s employment with the MRC of which he was aware as at the date of this agreement;
Failure to provide written reasons for dismissal.

More regulations in the next blog entry.