Please see below our minimum fee guide for Settlement Agreement advice for employees and executives dependent on the type of settlement agreement and the nature of advice required.
| Type of settlement agreement | Nature of advice required | Minimum fees* |
|---|---|---|
| Employee | Advice on the Agreement’s terms and effect | £750 plus VAT (£900) |
| Assistance with negotiations, including advice on counter-proposals. Negotiations either led by us or by you. | Normal hourly rates between £220 and £420 plus VAT (£264 to £504) | |
| Advice on enforceability of restrictive covenants and/or new contract of employment | Normal hourly rates between £220 and £420 plus VAT (£264 to £504) | |
| Re-signing or re-affirmation process to cover follow up advice around the actual termination date | £250 plus VAT (£300) | |
| Senior Executive | Advice on the Agreement’s terms and effect, in the context of Service Agreement (or equivalent) terms and executive incentive schemes | £1,250 – £2,500 plus VAT (£1,500 to £3,000) |
| Assistance with negotiations, including advice on counter-proposals on financial and non-financial elements. Negotiations either led by us or by you. | Normal hourly rates between £220 and £420 plus VAT (£264 to £504) | |
| Advice on enforceability of restrictive covenants and/or new Service Agreement (or equivalent) terms | Normal hourly rates between £220 and £420 plus VAT (£264 to £504) | |
| Re-signing or re-affirmation process to cover follow up advice around the actual termination date | £500 plus VAT (£600) | |
| Group Settlement Agreement exercise | Advice on terms and effect of Settlement Agreement where you are part of a large group programme which we have been asked by your employer to advise on | As agreed with your employer |
* It is common for employers to make a contribution which covers all or part of an employee’s legal fees when entering into a Settlement Agreement.