ModelSettlementAgreement.docVIP

Model Settlement Agreement [Before using this template it is important to ensure you have read the guidance on completing the agreement set out in the Acas booklet ‘Settlement Agreements; A guide’] Dated [enter date DD/MM/YYYY] SETTLEMENT AGREEMENT (Subject to Contract) [Insert name of Employer] -and- [Insert name of Employee] THIS SETTLEMENT AGREEMENT (the ‘Agreement’) is dated [enter date]: DD/MM/YYYY. This Agreement is made between [insert Employer name] (‘the Employer’) and [insert Employee name] (‘the Employee’). 1: Background The Employee has been employed by the Employer as [enter job title] since [enter start date]. The Employer and Employee have agreed to settle the Particular Claims on the terms set out in this Agreement. The Employer enters into this Agreement without any admission of liability. 2: Definitions and Interpretations In this agreement: ‘Claims’ means any claim, claims or causes of action that the Employee has or may have against the Employer. ‘Particular Claims’ are those Claims which the Employee and Employer intend to be settled by this Agreement, arising out of the Employee’s employment or the termination of employment, as set out in Annex A [if the Agreement is being used in Scotland the following additional words should be inserted at the end of this clause ‘as set out in Annex A which is hereby incorporated into this agreement’]. ‘Termination date’ means the date on which the employment has ended or will end, as set out in clause 3.1. References to the singular in this Agreement shall include references to the plural and vice versa and words in the masculine include the feminine and vice versa. The headings in this Agreement are for ease of reference and shall not affect interpretation. 3: Termination Date and Notice The Employee’s employment with the Employer will terminate on [enter date: DD/MM/YYYY] (‘the Termination Date’). The Employer and Employee will continue to be