I have been advising on settlement agreements for 25 years and I am asked this question every day.
The question always comes up when I am discussing with the employee client whether they are happy with the terms they have been offered under the settlement agreement or whether they want to go for better terms or more money.
Some clients are happy with the payment set out in the settlement agreement and just want advice and sign off which will often be provided on a same day service basis.
Others are unhappy with what has been offered or at least want to understand how the employment tribunals calculate employment claims awards as this will allow the client way up whether to accept the settlement agreement.
Asking for an increased payment under a settlement agreement is known as making a counter-offer and strictly speaking amount to rejecting the existing offer.
Whilst counter-offering always comes with the risk that the employer could pull the original offer, in my experience 99.9% of employers receiving such a counter offer/request for changes to a settlement agreement (including a request for an increased payment) very rarely pull the original settlement offer altogether. They will usually either stick to their original position or agree to an increase.
Your chances of getting an increase will very much depend on the facts/background and to what extent I have the ammunition to enable me to persuade the employer that it is in their best interest to increase the current offer and get the matter settled.
If you need sign off or advice on your settlement agreement please contact David Greenhalgh.
This article/blog is for reference purposes only. It does not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking or deciding not to take any action.