Original and updating author: Nicole Rainey, DAC Beachcroft LLP
When to use this model settlement agreement
Use this model agreement on the termination of employment when you want to prevent an employee from issuing proceedings in relation to infringement of his or her statutory employment rights. It is particularly suitable for senior employees, including senior employees who are directors.
This model agreement should be accompanied by a Letter confirming that an employee has been given independent advice before entering into a settlement agreement. A settlement agreement is not effective unless the employee has received advice from a relevant independent adviser as to the terms and effect of the proposed agreement.