Compromise agreements , when you are made redundant, are now called Settlement Agreements!
They are legally binding contracts for bringing to an end the employment relationship on agreed terms.
The main reason for them is they waive an individual’s right to bring claims against their employer.
There are certain things that need to be in place for them to be legally binding and they must be in writing .
For further information about settlement agreements ( formerly compromise agreements) contact us at TM LAW for your advice.
