Settlement Agreement Costs & Fees: Our Prices
A Settlement Agreement (previously called a Compromise Agreement) is a contract which will bind both you and your employer to its terms. Usually, in a Settlement Agreement the employer will offer a compensation payment to an employee in exchange for that employee leaving their job; giving up their employment rights; and, agreeing not to bring any claims against their employer.
At Lincs Law Employment Solicitors, we understand that one of the main concerns clients will have about seeking legal advice regarding their Settlement Agreement is the cost. For most Settlement Agreements, the employer will make a contribution to the cost of legal advice. However, it is not always clear whether that contribution will be sufficient. That is why we set out below our fixed prices and fee options.
- Settlement Agreement Fixed Fees
- Pay As You Go Fees (Renegotiation)
- Conditional Fee Agreement (Renegotiation)
Settlement Agreement Fixed Fee Service
If you have been offered a Settlement Agreement by your employer, you must obtain independent legal advice before signing. We offer a Fixed Fee service and the cost of that service depends upon the Employment Solicitor you choose to advise you on your Settlement Agreement.
| Employment Law Specialist | Experience | Settlement Agreement Appointment |
|---|---|---|
| Managing Director, Employment Law Solicitor | Qualified solicitor with over 26 years’ specialist employment law experience. Advises on senior level termination and negotiation of exit packages, including Settlement Agreements. | £750 plus VAT @ 20% (£900) |
| Director/Associate, Employment Law Solicitor | Qualified solicitors with over 15 years’ specialist employment law experience. Advise on senior level termination and negotiation of exit packages, including Settlement Agreements. | £500 plus VAT @ 20% (£600) |
| Employment Law Solicitor | Qualified solicitors with specialist employment law experience. Significant experience advising on exit packages and negotiation of Settlement Agreements. | £350 plus VAT @ 20% (£420) |
As above, the convention (although it is not a requirement) is that your employer will pay our fees for advising you. The amount your employer is willing to contribute is usually set out within the Settlement Agreement itself.
The Settlement Agreement Fixed Fee Service includes your choice of a telephone, video or face to face appointment of up to 90 minutes where your Employment Solicitor will:-
- Discuss the circumstances of the Settlement Agreement offer from your employer (we will ask you to provide your Contract of Employment and Settlement Agreement. Please note, we would not review any other documentation as part of your Settlement Agreement Fixed Fee);
- Advise you of the terms of the Settlement Agreement from your employer;
- Draw to your attention any potential Employment Tribunal claims being settled; and,
- In the event you choose not to sign the Settlement Agreement, provide an estimate of fees for any additional work. This will include a discussion of possible funding options for negotiation (More information about possible funding is available on this page);
- If you do decide to sign the Settlement Agreement, we arrange for the return of your signed document to your employer; and,
- Confirm their advice in full and in writing so you have a comprehensive record of your discussions.
For most people, a Settlement Agreement is dealt with at the first appointment and no further assistance is required. However, we take the time to discuss the workplace circumstances which led to you being offered a Settlement Agreement. This is so we can advise as to the “deal” being offered. If you are not being properly compensated, we will advise you fully on the alternatives available to you.
More information about our Specialist Employment Solicitors is available from our website at lincslaw.co.uk/about/our-team If you would like assistance with your Settlement Agreement, please call us on 01522 440512, email contactus@lincslaw.com, use our online chat or fill out the contact form on this website. We want to help you, just as we helped the client who kindly left us this review:-
Review from Settlement Agreement client for Jasmine Stewart, Specialist Employment Solicitor
“Jasmine explained the terms of my agreement clearly and advised me on my rights including clauses and entitlements. Her service was outstanding, Jasmine went above and beyond to help me.
I am very pleased with the service I received from Jasmine and would thoroughly recommend her to anyone”.
Pay As You Go Fees (Renegotiation Funding Option)
Following our Settlement Agreement Fixed Fee Service, you may decide you wish to re-negotiate the amount of compensation you are being offered and/or some of the other terms within the Settlement Agreement. In those circumstances, we would agree fees with you to undertake those negotiations and you be charged an hourly rate for the work undertaken. Whatever you have instructed your Employment Solicitor to do, they will provide an estimate of their fees before you make any commitment.
If you decide to instruct your Employment Solicitor using this arrangement, please be assured that you will only pay for the work actually done on your matter. Often, your Employment Solicitor will be able to offer a capped fee arrangement which means you know the absolute maximum you will pay. Capped fees offer greater security as you might well pay less than the cap, but you will never pay more.
The hourly rate depends on the Employment Solicitor you instruct to help you. Again, we are completely transparent about fees and set out our charges below:
| Employment Law Specialist | Experience | Hourly Rate Fees |
|---|---|---|
| Director, Employment Law Solicitor | Qualified solicitors with over 15 years’ specialist employment law experience. Advise on senior level termination and negotiation of exit packages, including Settlement Agreements. | £330 (£275 plus VAT @ 20%) |
| Associate, Employment Law Solicitor | Qualified solicitors with over 15 years’ specialist employment law experience. Advise on senior level termination and negotiation of exit packages, including Settlement Agreements. | £300 (£250 plus VAT @ 20%) |
| Employment Law Solicitor | Qualified solicitors with specialist employment law experience. Significant experience advising on exit packages and negotiation of Settlement Agreements. | £240 (£200 plus VAT @ 20%) |
More information about our Specialist Employment Solicitors is available from our website at lincslaw.co.uk/about/our-team If you would like assistance with your Settlement Agreement, please call us on 01522 440512, email contactus@lincslaw.com, use our online chat or fill out the contact form on this website. We want to help you, just as we helped the client who kindly left us this review:-
Review from Settlement Agreement client for Kathryn Bolton, Associate, Specialist Employment Solicitor
“Due to an employment issue, I was offered a Settlement Agreement and needed a legal adviser to go through the details of the contract with me before agreeing to it. Kathryn asked for and took the time to understand the background events leading up to the offer of a Settlement Agreement. Using this information, she was able to achieve a better outcome than was originally offered by my employer.
I can’t think of what she could have done better in my case”.
Conditional Fee Agreement (Renegotiation Funding Option)
Following our Settlement Agreement Fixed Fee Service, you may decide you wish to re-negotiate the amount of compensation you are being offered (and/or some of the other terms within the Settlement Agreement). In those circumstances, your Employment Solicitor might be able to offer you a Conditional Fee Agreement.
A Conditional Fee Agreement works in a similar way to Pay As You Go above. Whatever negotiations you have instructed your Employment Solicitor to undertake, they will provide an estimate of their fees before you make any commitment. Also, if you decide to instruct your Employment Solicitor using this arrangement, you will only pay their hourly rate for the work actually done on your matter. Hourly rates under a Conditional Fee Agreement are significantly lower than the standard hourly rates quoted for the Pay As You Go funding option.
The main difference between Pay As You Go and a Conditional Fee Agreement is that if your Employment Solicitor is successful in achieving the outcome you want; you will then pay a Success Fee. What constitutes success and triggers payment of the Success Fee will be agreed between you and your Employment Solicitor at the outset. As will the amount of the Success Fee. You will have the full terms of the funding option available for you to consider before you make any commitment.
The Conditional Fee Hourly Rate depends on the Employment Solicitor you instruct to help you. Again, we are completely transparent about fees and set out our charges below:
| Employment Law Specialist | Experience | Conditional Fee Hourly Rate |
|---|---|---|
| Director, Employment Law Solicitor | Qualified solicitors with over 15 years’ specialist employment law experience. Advise on senior level termination and negotiation of exit packages, including Settlement Agreements. | £240 (£200 plus VAT @ 20%) |
| Associate, Employment Law Solicitor | Qualified solicitors with over 15 years’ specialist employment law experience. Advise on senior level termination and negotiation of exit packages, including Settlement Agreements. | £210 (£175 plus VAT @ 20%) |
| Employment Law Solicitor | Qualified solicitors with specialist employment law experience. Significant experience advising on exit packages and negotiation of Settlement Agreements. | £150 (£125 plus VAT @ 20%) |
More information about our Specialist Employment Solicitors is available from our website at lincslaw.co.uk/about/our-team If you would like assistance with your Settlement Agreement, please call us on 01522 440512 or fill out the contact form on this website. We want to help you, just as we helped the client who kindly left us this review:-
Review from Settlement Agreement client for Sophie Goodwill, Director, Specialist Employment Solicitor
“She was a tremendous help right from the off, I cannot speak highly enough on her capability and competence to undertake the role I engaged her. Sophie’s advice, progression, pace and above all deliverance was excellent. We achieved what we required, through Sophie’s strong attention to detail and determination to get the right result we achieved a good result.
It is rare that I cannot find constructive feedback and areas in which to improve upon, but I have to say I cannot detail anything that would help enhance her personal development – she is a credit to her company”.