Settlement Agreements and Executive Severance Arrangements

Settlement Agreements

We routinely advise senior executives and senior employees in relation to board room disputes, exit strategies, severance packages and the handling of settlement negotiations, as well as the drafting and negotiation of settlement agreements.

Our employment lawyers recognise that pragmatic and commercial advice provided in a timely manner is essential in order to resolve disputes and maximise professional and personal opportunities.  We also know when a robust approach can be most effective and are used to dealing with the largest employers to secure the best deal possible for our clients.

We are often asked by large national law firms to act for senior executives because they know they can safely recommend our expertise and service.  We ensure all aspects of employment agreements are properly considered, including financial compensation and other benefits (share schemes, pension plans, bonuses, long term incentive arrangements, insurances), notice periods and timing of departure, garden leave, director resignations, announcements (including stock exchange announcements) and minimising post-termination limitations on future work.  We also always seek to secure full payment of our clients’ legal fees by the employer.

In addition, we have extensive experience in the use of settlement agreements in commercial transactions, particularly in relation to corporate restructures and business sales and purchases.  We can provide independent advice to executives quickly and effectively in these circumstances to ensure that commercial timescales are not jeopardised.


Recent examples of our work in this area include:

  • Acting for various senior executives leaving a national retailer, negotiating substantial severance arrangements including the protection of future bonus, loyalty and LTIP arrangements
  • Assisting senior executives leaving a FTSE 100 company, including dealing with individuals seconded abroad with rights in foreign jurisdictions as well as in the UK, and tax equalisation issues
  • Negotiating a six figure exit package for a senior employee against a household name company and successfully securing termination packages for other employees from the same company
  • Advising a Finance Director leaving a listed PLC, securing favourable exit terms and maintaining their reputation through carefully drafted announcements and references, including the required stock exchange announcement
  • Advising senior executives on the scope of their restrictive covenants, options in relation to future employment and negotiating carve outs from restrictive covenant obligations as part of exit arrangements
  • Advising equity partners of international law firms, negotiating exit arrangements and securing the best possible packages whilst protecting reputation

For more information on the assistance we can provide, please speak to one of our employment solicitors.

Why use Myerson’s Employment Team?

Our specialist team of employment solicitors is described in the independent Legal 500 directory as “excellent”. In addition, both Partners in our team are recommended by the Legal 500. Therefore, you can be reassured that you will deal with some of the best employment solicitors in the country.

We are determined and robust on your behalf, but also easy to deal with and clear in our advice. We will fight your corner but understand that a common sense approach is often required in order to find solutions that work for you in the context of your professional and personal circumstances.

Collectively, we have over fifty years’ experience of providing strategic employment law advice to senior individuals and others facing difficult work-place issues and who need support and guidance in:

  • understanding their legal rights and their practical options; and
  • achieving the best possible outcome, whether at the start, during or at the end of their working relationship.

Our ethos is to provide our clients with an alternative to the major regional and national firms by offering high quality legal advice from highly experienced, specialist lawyers, but on a much more cost-effective basis.

In particular, we offer:

  • Clear and straightforward advice.
  • Cost-effective support and certainty on costs where you need it.
  • Extensive experience of advising senior executives, directors, partners and others with complex employment concerns, including discrimination issues and group claims.
  • A credible team that is used to dealing with and acting against large employers and law firms on behalf of our clients.

 

Our approach to costs

We know that clarity on costs is vitally important to our clients. As standard practice, we give our clients an estimate of the costs involved in undertaking any piece of work at the outset. We then provide costs updates on a regular basis.

We work closely with our clients to ensure that we meet their expectations both in terms of their objectives for a particular piece of work and in relation to costs. In addition, we are happy to discuss fixed fees and retainer arrangements if that is helpful to you.

If you are an employer looking for an employment agreement or an additional employment advice regarding Settlement Agreements please click here.


How We Can Help


A member of our specialist team will be happy to help.

To discuss Settlement Agreements and Executive Severance Arrangements issues, please either use the contact form on the right, email us at lawyers@myerson.co.uk or call us today on +44(0)161 941 4000 to speak to a member of our team.

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Myerson Solicitors LLP
Grosvenor House, 20 Barrington Road, Altrincham, Cheshire, WA14 1HB
Tel: +44(0)161 941 4000
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