Compromise agreement. That’s what it’s all about, huh? Agreeing to compromise … and trying to be reasonable and fair while also going for what you really want and may feel you truly deserve. It’s as simple as that and as complicated.
In legalese, comprise agreement refers to a “specific type of contract, regulated by statute, between an employer and an employee (or ex-employee) under which the employee receives consideration, often a negotiated financial sum, in exchange for agreeing that he or she will have no further claim against the employer as a result of any breach of a statutory obligation by the employer.” Or at least, that’s how Wikipedia puts it. It’s tricky stuff … and very applicable to a lot of folks situations these days.
If you’ve recently been involved in a dispute with your employer, or you’re being made redundant, then you may be invited to an “off the record” discussion at which your employer raises the issue of a compromise agreement or severance agreement. You could be asked to sign a compromise agreement in exchange for an additional payment or some other benefits. Sounds good right? Or at least the best possible outcome from a not so pleasant experience. Maybe not.
Things like this aren’t always as straightforward a process as they seem. It’s recommended that, to protect your interests, you seek professional advice. This may be from your trade union representative or from a specialist employment solicitor.
Whatever the case, just be sure you’ve got all the facts you need before making any decisions about work related disputes and such. Staying silent, just taking what’s slung out at your and stewing over it without actually doing anything about it is very productive. And being a pushy crank without any idea about your rights never turns out pretty.
