Compromise Agreement Template For Employers' Use Only
This easy to use template document provides the following clauses:
1. Parties
2. Background
3. Compensation and Payment
4. Remuneration and Expenses Clause
5. Legal Expenses
6. No Admissions Clause
7. Tax Arrangements
8. Dismissal Clauses
9. Employee Warranties
10. Representation Clause
11. Jurisdiction Clause
12. Meaning of Without Prejudice
13. Meaning and Definitions
14. Liabilities and Claims
15. Signatures for Employee, Employer and Solicitor's information.
Employers use the agreement to settle claims against their companies or for use where an agreement has been reached and the Company requires additional protection against the risk of a tribunal. Guidance notes are included within the document.
Note it is a requirement for this agreement to be signed off by a solicitor who has advised the employee and the clause included within the document includes the provision of an employer payment of £250 plus VAT contribution towards this. A compromise agreement is only legally binding if the employee has taken advice from a qualified solicitor or barrister and that professional signs off the agreement.
