Settlement and Severance Agreements
Often employers offer Settlement Agreements or Severance Agreements when terminating employment and may provide you further financial compensation or incentives which may be beyond your contractual entitlement so as to offer you an incentive for you to enter a Settlement Agreement. However, by signing such an agreement you give up your right to bring on an employment related claim against your employer, so it is extremely important for you to be aware of your legal rights and be in a position to make informed decision after considering various options open to you.
Independent legal advice
Velos & Velos Lawyers are able to provide you independent legal advice and negotiate on the Settlement Agreement, which may be an effective way for you to receive a fair compensation for your termination of your employment without the need to bring on a formal termination or other claim against your employer. Bringing on a claim involves significant legal costs, is time consuming, stressful, as well as inconvenient, as well as may attract potential negative publicity for your future employment prospects.
The Settlement Agreements once executed are similar in scope to the Settlement Agreements of the Fair Work Commission and on that basis, the potential dispute between employer and employee is fully settled.
Negotiating Settlement Agreements
Velos & Velos Lawyers have great experience and are able to advise and negotiate on Settlement Agreements on a wide range of levels of employment. You may get a better outcome in your Settlement Agreement if it is negotiated by Velos & Velos Lawyers.