David in Solicitors Journal
Can employers safely make exit payments when senior executives leave under a storm cloud?
From Nigel Farage’s controversial account closure to CEO resignations, David Greenhalgh of Employment Lawyer London explores how NatWest is navigating a public relations and legal minefield following.
David highlights the controversy surrounding Dame Alison Rose’s potential compensatory package after her resignation, given her significant remuneration as CEO. NatWest announced she would receive a salary/notice, shares, and pension payments totalling around £2.4 million as part of her exit package.
READ ‘CEO SEVERANCE PAY RISKS NAT WEST’S LEGAL AND REPUTATIONAL STANDING ‘
Common Questions Answered
Why do I need a lawyer to review my settlement agreement?
UK law requires independent legal advice to be taken before a settlement agreement can become legally binding. Without it, the agreement is unenforceable. An experienced employment lawyer will ensure you understand every clause and that your interests are fully protected.
How much does it cost to get a settlement agreement reviewed?
Your employer will usually pay for you to get independent legal advice on the terms and effect of your agreement. This is standard practice and is typically written into the agreement itself as a contribution towards your legal costs.
Can my settlement agreement be improved?
Often, yes. David regularly negotiates for increases in value, better exit terms and stronger protections for his settlement agreement clients. Even where an employer presents a figure as “final”, there is frequently room to negotiate.
How long does the process take?
With David, many clients get to sign-off in a matter of days if all they need is advice and sign-off. On urgent agreements David provides a same-day service, so a tight deadline is never a barrier to getting the right advice.
