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 £240 and £390 plus VAT (£288 to £468) | |
Advice on enforceability of restrictive covenants and/or new contract of employment | Normal hourly rates between £240 and £390 plus VAT (£288 to £468) | |
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 £240 and £390 plus VAT (£288 to £468) | |
Advice on enforceability of restrictive covenants and/or new Service Agreement (or equivalent) terms | Normal hourly rates between £240 and £390 plus VAT £288 to £468) | |
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.