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Work Settlement Agreement
"I need a Work Settlement Agreement for a senior software engineer who is leaving due to redundancy on March 15, 2025, with a settlement payment of £75,000 and including post-employment restrictions for 6 months."
1. Parties: Identification of employer and employee
2. Background: Context of employment and circumstances leading to settlement
3. Definitions: Key terms used throughout the agreement
4. Termination Date: Specified date of employment termination
5. Settlement Payments: Details of all payments to be made including timing and tax treatment
6. Waiver of Claims: Comprehensive list of claims being settled and waived by the employee
7. Confidentiality: Obligations regarding confidentiality of agreement and employment information
8. Legal Advice: Confirmation of independent legal advice received and adviser details
9. General: Standard boilerplate provisions including governing law and jurisdiction
1. Garden Leave: Terms of garden leave period before final termination date
2. Post-termination Restrictions: Non-compete and other restrictive covenants continuing after termination
3. Reference: Terms of agreed employment reference to be provided
4. Company Property: Requirements and timeline for return of company property
5. Outplacement Support: Details of any career transition or outplacement services to be provided
1. Schedule 1: Claims Being Settled: Detailed list of statutory and contractual claims being waived under the agreement
2. Schedule 2: Payment Details: Detailed breakdown of all settlement payments, including tax treatment
3. Schedule 3: Adviser's Certificate: Certificate to be signed by independent legal adviser confirming advice given
4. Appendix 1: Agreed Reference: Template of agreed employment reference to be provided to future employers
Authors
Adviser's Certificate
Agreement
Board
Business
Claims
Company
Compensation Payment
Confidential Information
Effective Date
Employee
Employer
Employment
Employment Contract
Group
Group Company
Independent Adviser
Notice Period
Parties
Payment Date
Reference
Relevant Period
Restricted Activities
Settlement Payment
Statutory Claims
Termination Date
Tax Liability
Waiver
Without Prejudice and Subject to Contract
Settlement Payments
Tax Treatment
Legal Fees
Confidentiality
Non-Disparagement
Post-Employment Restrictions
Reference
Company Property
Waiver of Claims
Warranties and Representations
Legal Advice
Entire Agreement
Variation
Third Party Rights
Severability
Governing Law and Jurisdiction
Without Prejudice
Announcements
Garden Leave
Payment Timing
Tax Indemnity
Continuing Obligations
Data Protection
Outplacement Support
Share Options
Insurance and Benefits
Future Cooperation
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