Compromise Agreement For Redundancy
Description
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FAQ
To be valid, a compromise agreement must be in writing, identify a valid 'relevant independent adviser', identify the possible claims the employee has, and be signed by the employee after speaking with the relevant independent adviser.
Unless you have already have another job to go to, it is not easy to ascertain how long you will be out of work, but as a general rule of thumb, a payment equivalent to six month's salary is considered to be a good settlement.
Those requirements include:An offer. This is what one party proposes to do, pay, etc.Acceptance.Valid consideration.Mutual assent.A legal purpose.A settlement agreement must also not be "unconscionable." This means that it cannot be illegal, fraudulent, or criminal.