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 (below Director-level)|| Basic advice on the Agreement’s terms and effect|
Little, if any, negotiation anticipated
|£500 plus VAT (£600)|
|Employee (below Director-level)||Terms not agreed. Some negotiation of terms likely and Torque Law to lead that negotiation.|| £500 – 750 plus VAT|
(£600 – £900)
|Where advice to include review of restrictions and/or new contract of employment|| £250 – 500 plus VAT|
(£300 – £600)
|Director-level or equivalent||As well as giving basic advice on the Agreement’s terms and effect, some negotiation of terms anticipated|| £1,000 – 1,500 plus VAT|
(£1,200 to £1,800)
|Where advice to include review of restrictions, incentives and/or equity considerations|| £2,000+ plus VAT|
|Re-signing or affirmation process||Follow up advice around the actual termination date|| £250 plus VAT|
* 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.