Usually a settlement agreement means that you and your employer are seeking or have come to an agreement to settle matters in relation to employment. The settlement can include financial and non-financial components.
If you have been presented with a settlement agreement, we recommend that before you sign an agreement, you read through it. If you do not understand all the of the agreement then ask questions and if you are not satisfied with the answers seek external advice.
When presented with a settlement you can either accept, reject the offer or make a counteroffer. If you decide to make a counteroffer then it is a rejection of the offer and you are making a new offer. There is no guarantee that the other side will put another offer on the table.
We can review the agreement before you sign it to ensure your rights are protected, we can help you amend it or present a counteroffer if that is what you want.
You do not have to sign a settlement agreement. If you are presented with an agreement to sign and it includes an offer, it is more likely than not that you will need to sign the agreement for your employer to give you any monies. We strongly recommend engaging us to review any agreement before you sign it to ensure your rights are protected.
You are able to make a counter offer however, if you make a counter offer you are rejecting the original offer and the previous offer is off the table. Your employer is not required to present the same offer to you, if they do not accept your counteroffer.
If this happens, we encourage you to contact us for some advice.