Settlement Agreements,Confidentiality & Restrictive Covenants
Legal services for employees
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Why Taylor Law?
A settlement agreement is a legally binding document signed by both an employer and an employee, aimed at resolving any potential claims arising from employment or its termination. It typically involves the employee receiving a sum of money in exchange for relinquishing their right to make claims against the employer. At Taylor Law, we provide expert advice and guidance on settlement agreements, ensuring that you fully comprehend the implications of the agreement you are signing.
Settlement Agreements: A Quick and Advantageous Solution
The most common use of a settlement agreement is to bring an end to a period of employment. By opting for a settlement agreement, you can benefit from a faster resolution to any disputes compared to lengthy notice periods or formal dispute resolution processes. Moreover, the financial compensation offered through a settlement agreement is often more generous than what an employee might receive otherwise.
Our team at Taylor Law is well-versed in handling settlement agreements, addressing outstanding issues comprehensively, including payment in lieu of holiday or bonuses, and ensuring the provision of references, among other matters. We understand that confidentiality is a crucial aspect of these agreements, safeguarding the agreement itself, the details of your employment, and your employer’s business.
Protecting Business Interests: Confidentiality and Restrictive Covenants
Confidentiality clauses and restrictive covenants play a vital role in protecting a company’s sensitive information and trade practices from disclosure to competitors. Data covered by confidentiality clauses may include customer lists, marketing and business plans, manufacturing processes, and management information.
After employment ends, an employer may wish to prevent former employees from engaging in actions that could harm their business. These actions might include persuading clients to switch to their new ventures, setting up rival businesses nearby, or working for competitors. We at Taylor Law can offer expert advice on the terms of any restrictive covenant you are asked to enter into, ensuring you understand its scope and that it is fairly drafted, without being overly restrictive.
Understanding Your Rights: Independent Legal Advice
Before signing a settlement agreement, it is essential to seek independent legal advice, as entering into such an agreement means waiving certain rights. By law, employers are typically expected to contribute towards the cost of obtaining this advice. Our team has extensive experience in dealing with settlement agreements and will ensure that your rights and interests are adequately protected throughout the process.
Conclusion
Settlement agreements can be an effective and efficient means of resolving employment-related issues, providing a viable alternative to lengthy disputes or notice periods. At Taylor Law, we pride ourselves on our expertise in handling settlement agreements and providing tailored advice to protect your interests.
Confidentiality and restrictive covenants are crucial aspects of settlement agreements, safeguarding sensitive information and preventing actions that could harm an employer’s business. We are dedicated to ensuring that these clauses are fairly drafted and in line with your rights.
For more information and answers to commonly asked questions, we invite you to contact our team for personalized assistance with settlement agreements, confidentiality, and restrictive covenants. At Taylor Law, we are here to support you throughout every step of the process and protect your rights as an employee.
Visit our frequently asked questions for more information.
Our Employment Fees and Costs
Our employment solicitors are:
Scott Taylor (Solicitor with at least 8 years’ experience)
Ben Tighe (Solicitor with at least 8 years’ experience)
Max Hornigold (Solicitor)
Chris Bennett (Junior Executive - London)
Our hourly charges are as follows:
Private (Leeds and Middlesbrough) :
Partners/Solicitors with at least 8 years’ experience - 295.00
Solicitors with at least 4 years’ experience - 252.00
Solicitors, Legal Executives, Senior Executives - 205.00
Trainee Solicitors - 145.00
Junior Executives/Assistants - 145.00
Private (London) :
Partners/Solicitors with at least 8 years’ experience - 325.00
Solicitors with at least 4 years’ experience - 268.00
Solicitors, Legal Executives, Senior Executives - 215.00
Trainee Solicitors - 150.00
Junior Executives/Assistants - 150.00
Lesser complexity case
This would tend to be a case where unfair dismissal is the sole claim and the matter is limited to a one-day hearing.
It would be in the region of £15000-£18,000 plus VAT and disbursements (if we instruct counsel).
Medium complexity case
This would be a case where there are additional claims to unfair dismissal, such as discrimination. This would also apply where the case for unfair dismissal requires a Preliminary Hearing or where the case is listed for a Final Hearing of two or three days’ duration.
This would be in the region of £20,500- £23000 plus VAT, plus counsel fees of approximately £1,500 for the first day of the Final Hearing and £1,000 for the refreshers for the second and subsequent days of the Final Hearing. .
Higher complexity case
This would be a case where the unfair dismissal claim involves multiple discrimination complaints or complex matters such as whistleblowing/making of protected disclosures and where the case is listed for a Final Hearing of two or more days’ duration.
From £20,000 to £25000 plus VAT, plus counsel fees of £1,500 for the first day of the Final Hearing and £1,000 for the second and subsequent days of the Final Hearing.
The following factors can have an impact on the complexity of a case:
- Defending claims that are brought by litigants in person
- Complex preliminary issues such as whether the claimant is disabled (if this is not agreed by the parties)
- The number of witnesses and documents
- If it is an automatic unfair dismissal claim. For example if the reason for dismissal is because of a protected disclosure or an employee’s pregnancy or maternity leave
The fees set out above cover all of the work in relation to the following key stages of a claim:
- Taking initial instructions, reviewing the papers and advising on merits and likely compensation
- Entering into pre-claim conciliation
- Preparing a claim or response
- Reviewing and advising on a claim or response from other party
- Exploring settlement and negotiating settlement throughout the process
- Preparing a schedule of loss
- Preparing for and attending a Preliminary Hearing
- Exchanging documents with the other party and agreeing a bundle of documents
- Taking witness statements, drafting statements, and agreeing their content with witnesses
- Preparing bundle of documents
- Reviewing and advising on the other party’s witness statements
- Agreeing a list of issues, a chronology and/or cast list
- Preparation for the Final Hearing or instructions to Counsel
The stages are not fixed and guaranteed, and we will adjust our costs accordingly when some stages are not required.
How long will my matter take?
The time that it takes from taking your initial instructions to the final resolution of your matter depends largely on the stage at which your case is resolved. If a settlement is reached during pre-claim conciliation, your case is likely to take 2-4 weeks. If your claim proceeds to a Final Hearing, your case is likely to take 9-18 months. This is just an estimate and we will of course be able to give you a more accurate timescale once we have more information and as the matter progresses.
Disbursements
Disbursements are costs related to your matter that are payable to third parties, such as court fees. We handle the payment of the disbursements on your behalf. Disbursements incur a VAT charge of 20%.
Contact us
At Taylor Law our employment team have in-depth experience of advising on settlement agreements as well as confidentiality clauses and restrictive covenants. We will explain the terms of any document to you clearly and answer any questions you may have.
For an initial discussion, ring us on 0113 532 8100 (Leeds), 01642 221 108 (Middlesbrough) or 0203 780 7646 (London) or fill in our Contact Form.
“Thank you for all your help and advice, it really made a difference. Feedback, help and guidance. Thank you to all the team – first class”.
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