Sometimes employment relationships simply do not work out. Commercially as busy employers you may not have the time to follow the correct regulatory processes.
As an experienced team of employment lawyers we can advise you on how to exit employees by way of a settlement agreement.
We can guide you through the process or negotiate the terms on your behalf with your employee or direct with their lawyer. We can also prepare the relevant documentation (Settlement Agreement) which will reflect the terms of the settlement and how the relationship is to end. This might include:
- share options
- pension payments
- cars and other property
- post-termination obligations (restrictive covenants)
- intellectual property.
There are inevitably tax implications which we can provide guidance and assistance on if required. See our PENP calculator, designed to assist in the calculation of taxation on termination payments.
If you need advice about settlement agreements please email Birketts' Employment Law Team.