• Settlement Agreement Solicitor

  • 著者： Geoffrey Caesar
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Settlement Agreement Solicitor

著者： Geoffrey Caesar
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  • Have you received a settlement agreement? Freephone: 0800 061 4816 Email: geoffrey@settlementsolicitor.uk Geoffrey Caesar is a solicitor of England and Wales who has specialised in settlement agreements for over twenty years. In this podcast, he discusses every conceivable aspect of settlement agreements in detail. Tune in to stay informed and empowered.
    © Geoffrey Caesar
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  • Episode 7: Non-Financial Benefits in a Settlement Agreement

    Episode 7: Non-Financial Benefits in a Settlement Agreement
    2024/09/27
    The Settlement Agreement Solicitor Episode 7 – Non-Financial Benefits in a Settlement Agreement Welcome back to The Settlement Agreement Solicitor, the podcast where I, Geoffrey Caesar, guide you through the ins and outs of settlement agreements with the benefit of over 20 years’ experience as a solicitor of England and Wales specialising in settlement agreements. In this episode, Episode 7, we will be talking about non-financial benefits that can be included in a settlement agreement.When most people think of settlement agreements, the first thing that comes to mind is, of course, the compensation—how much am I getting, and how will it be paid? But what many do not realise is that settlement agreements can include a variety of non-financial benefits. Depending on your situation, these additional terms can be just as valuable, if not more so. Let's dive into a few examples. 1. Agreed Reference One of the most common non-financial elements is an agreed reference. After leaving a job, especially in contentious circumstances, your future job prospects might be one of your biggest concerns. An agreed reference can be an important way to control the narrative about your departure. It is a pre-written document that outlines what your former employer will say if a prospective employer calls for a reference. This is vital in safeguarding your reputation and ensuring that nothing damaging or unfair gets said in future employment checks. 2. Confidentiality Clauses Most settlement agreements will include some form of confidentiality clause, where both sides agree not to discuss the terms of the agreement or, in some cases, the fact that a settlement has even been reached. While this might seem like it mainly benefits the employer, it can also be highly beneficial to the employee. If the circumstances of your departure are sensitive, a confidentiality clause can protect your reputation and give you peace of mind that your former employer won’t disclose the situation. 3. Non-Disparagement Clauses Closely linked to confidentiality is a non-disparagement clause. This is an agreement where both parties promise not to bad-mouth each other publicly. For employees, this can be a particularly useful safeguard against any negative comments or reputational damage after you leave. Think of it as a bit of extra protection to ensure no one’s talking about you in a way that could harm your future career. 4. Return of Property and Retention of Benefits You might also see terms about the return of company property. But, in some cases, there can be negotiation around retaining certain benefits. For example, if you had a company car, the agreement might allow you to keep it for a period of time after your employment ends. Similarly, things like private healthcare, life insurance, or gym memberships may be extended for a period as part of the settlement. 5. Outplacement Support Outplacement support is another powerful non-financial benefit, especially if you’re concerned about finding a new job. This could involve your employer covering the costs of career coaching, CV writing services, or even retraining. It’s a way to help you transition smoothly into your next role, which can be invaluable when you’re at a crossroads in your career. 6. Apology or Statement of Regret This next one might surprise you, but some people negotiate for an apology or a statement of regret from their employer. It’s not common, but in some cases, especially where workplace mistreatment or miscommunication is involved, getting a formal apology can provide emotional closure. It won’t be for everyone, but for some, it can be an important part of moving forward. 7. Mutual Agreement on Public Statements Lastly, public statements, particularly for more senior employees or those in public-facing roles. Negotiating a mutually agreed press release or public announcement about your departure is possible. This can help manage how your exit is perceived by the outside world, giving you control over the message that’s put out there.As you can see, settlement agreements aren’t just about the financial payout. Non-financial benefits can be just as crucial, particularly when it comes to your reputation, future career prospects, and personal peace of mind. When negotiating a settlement, always remember that it’s not just about what you’re walking away with monetarily but how you’re positioning yourself for the future. A well-crafted settlement agreement can protect your interests long after your departure from the company. And that wraps up today’s episode. I hope you found this dive into non-financial benefits helpful. As always, if you’re dealing with a settlement agreement or just have questions, feel free to reach out to me, Geoffrey Caesar, your go-to expert on settlement agreements.
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    6 分
  • Episode 6: What type of Payment is Typically Included in a Settlement Agreement?

    Episode 6: What type of Payment is Typically Included in a Settlement Agreement?
    2024/09/25
    The Settlement Agreement Solicitor Episode 6: What Types of Payments Are Typically Included in a Settlement Agreement? Hello and welcome back to The Settlement Agreement Solicitor, the podcast that takes you through the ins and outs of settlement agreements with clarity, guidance, and a bit of common sense. I’m your host, Geoffrey Caesar, a solicitor with over 20 years of experience helping clients negotiate and understand these often-complex legal documents. Today, in Episode 6, we are tackling a question at the heart of most settlement agreements: What types of payments are typically included in a settlement agreement? Whether you are considering signing one or you are right in the thick of negotiations, understanding the payments you’re entitled to—and ensuring that they’re fair—is absolutely critical. So, we are going to walk through each type of payment you might encounter, and I will also provide some practical tips to ensure you don’t miss out on anything. Let’s get into it. 1. Your Regular Pay Up to the End of Your Employment Let’s start with something that might seem straightforward but is often an overlooked detail: your regular pay. This includes any salary, wages, holiday pay, or benefits you’re entitled to up to your official end date. This must be clearly spelled out in your agreement. One point to check is whether you are still on the payroll during a notice period or continuing to accrue holiday pay or pension contributions. These small details can add up, and it’s worth clarifying exactly what your entitlement is, especially if you are expected to remain “on garden leave” until your final day. If you have taken any accrued holiday that exceeds your entitlement, the company may deduct that from your final payment, which is another thing to watch out for. But remember, the core of this section is simple: make sure you are paid what you are owed. 2. Payment in Lieu of Notice (PILON) Next, we have Payment in Lieu of Notice, or PILON, as it is often abbreviated. PILON can be a very useful tool, especially if you and your employer want to avoid a long, drawn-out exit. But how does it work? Instead of requiring you to work through your notice period, your employer pays you what you would have earned had you worked. Simple, right? Well, not always. Make sure you know whether PILON is in your contract. Some contracts include it as an option for the employer, but others might not. If it’s not included in your contract, your employer could be in breach of contract by paying PILON without agreement, which means you may be entitled to more compensation. PILON is usually subject to tax and National Insurance deductions, unlike certain termination payments we shall discuss in a moment. It is important to ensure that this has been calculated properly and that you’re not losing out through incorrect deductions. If your contract of employment does not contain a PILON clause then, if your employer requires you to not work your notice period, the payment they make instead of you working your notice period is effectively a payment for breach of contract, which means that the first £30,000 can be paid free of tax and national insurance deductions. This brings us onto the third type of payment. 3. Termination Payments: Ex Gratia and More Now, let’s move on to one of the most crucial components of any settlement agreement—the termination payment. This is the lump sum that many employees focus on, and for good reason. It is often the most significant payment you will receive as part of the settlement. One key term here is ex gratia, meaning ‘out of goodwill’. Ex gratia payments are discretionary payments made by your employer, usually to compensate you for the loss of your job. These payments are often seen as a goodwill gesture to smooth the transition out of the company. Here is where it gets interesting. Termination payments, including ex gratia sums, can often be paid tax-free up to £30,000 in the UK. This is a real advantage, as you can receive a significant lump sum without tax being deducted, provided the payment is structured correctly. But remember, any amount over £30,000 will be subject to tax, so it’s vital to check how that is calculated. If your agreement refers to "compensation for loss of employment," ensure the amount is clear. I have seen agreements that do not adequately specify the breakdown, leading to later confusion. Clarity is key. Never be afraid to ask your employer for a full breakdown of the figures. 4. Bonuses, Shares, and Long-Term Incentive Plans (LTIPs) Next, we come to bonuses, shares, and long-term incentive plans—often the most complex part of any settlement agreement, especially for senior employees or those in sectors with a performance-based pay structure. Let’s start with bonuses. If you’ve earned a bonus or are partway through a bonus year, it’s essential to negotiate how this will be handled...
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    10 分
  • Episode 5: How Much Money Will I Receive Under a Settlement Agreement?

    Episode 5: How Much Money Will I Receive Under a Settlement Agreement?
    2024/09/24
    The Settlement Agreement Solicitor Episode 5 How much money will I receive under a settlement agreement? Welcome to the Settlement Agreements solicitor podcast, your go-to resource for everything related to settlement agreements in the workplace. I'm your host, Geoffrey Caesar. a solicitor of England and Wales with over 20 years of experience specialising in settlement agreements. Today we're diving into one of the most frequently asked questions. How much money will I receive under a settlement agreement? Before we get into the nuts and bolts, it is essential to understand that settlement agreements are unique. There is no one-size-fits-all answer regarding how much money you'll receive. Several factors come into play, and while there's no exact science to it, I will walk you through the key elements typically considered when calculating your settlement amount. 1. Statutory redundancy payIf you've been dismissed by reason of redundancy, you're likely entitled to statutory redundancy pay which forms the foundation of most settlement agreements where redundancy is involved. The calculation is based on three factors, your age, your length of service, and your weekly pay capped at a statutory limit. In general, you will receive one and a half weeks pay for each full year of service over the age of 41, one week's pay for each year of full service between the ages of 22 and 40, half a week's pay for each full year under the age of 22. Now, this is the legal minimum, but many employers offer more in the context of a settlement agreement. Some offer enhanced redundancy packages to incentivise an amicable departure and avoid potential legal disputes. 2. Pay in lieu of notice, also referred to as PILONAnother important component of settlement agreements is pay in lieu of notice. or PILON. If your employer is terminating your employment immediately, they might include a payment equivalent to your contractual notice period rather than requiring you to work your notice. For example, if your contract stipulates a three-month notice period but your employer doesn't want you to work that period, they'll include an additional three months' pay under the settlement agreement. Depending on how it is structured, this might be taxable, but careful drafting of the agreement can sometimes reduce the tax burden. 3. Compensation for loss of officeA big part of any settlement agreement is the compensation for loss of office. This is where things can get a bit more fluid. This payment compensates you for the fact that your employment is ending abruptly and without you resigning. Several factors influence this figure. Firstly, length of service. The longer you've been with the company, the higher the compensation is likely to be. Secondly, current salary and benefits. This includes things like bonuses, commissions, car allowances or pension contributions. Thirdly, likelihood of finding a new job. If it's a tough job market or your specific industry has few opportunities, you may be able to negotiate a higher payment to cover the time it will take you to find new employment. Generally speaking, most employers aim to offer between one to six months salary as compensation, but this can vary significantly depending on your circumstances. the risks involved for the employer and the strength of any potential claims you might have against them. 4. Compensation for Employment Claims If there's a risk that you could pursue legal claims against your employer, particularly claims of unfair dismissal, discrimination or whistleblowing, your settlement agreement might reflect this risk. Employers are typically keen to avoid legal disputes, which can be costly and damaging to their reputation. The value of any potential claim, however, will depend on factors such as... Firstly, the strength of the claim, how strong your legal arguments are. Secondly, losses incurred. This includes loss of salary, bonus, or career progression opportunities. Thirdly, impact on your mental or physical health. This could increase the overall settlement figure if you've suffered from stress or ill health as a result of your employer's actions. The stronger your potential claims, the more leverage you have in negotiating a higher settlement figure. 5. Other elementsLet's not forget the non-monetary benefits that can also be negotiated as part of your settlement agreement. For example, references. Securing a positive reference can be crucial for your future job prospects. Tax treatment. Some parts of your settlement may be tax-free, such as the first £30,000 of a compensation for loss of office. So structuring the payment in a tax-efficient way is often an important part of negotiations. How the settlement amount is typically arrived at.How do we bring all of these elements together? Well, negotiations typically begin with the statutory redundancy pay and a PILON, as the baseline. Then, compensation for loss of office is added to reflect the financial and emotional ...
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    8 分

あらすじ・解説

Have you received a settlement agreement? Freephone: 0800 061 4816 Email: geoffrey@settlementsolicitor.uk Geoffrey Caesar is a solicitor of England and Wales who has specialised in settlement agreements for over twenty years. In this podcast, he discusses every conceivable aspect of settlement agreements in detail. Tune in to stay informed and empowered.
© Geoffrey Caesar
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