A settlement agreement is a contract between an employer and an employee that ends a dispute. Settlement agreements may result from negotiation, mediation, arbitration, or litigation. The attorneys representing the parties actively negotiate the terms of settlement agreements, but there are certain legal requirements that cannot be changed through negotiation. For example, if an employee has a claim under the Age Discrimination in Employment Act (ADEA), the employee must be allowed at least 21 days to consider a settlement agreement before signing it and at least seven days after signing it to change her or his mind and revoke the agreement.
It is common for legal disputes between current or former employees and employers to end with a settlement agreement. Once the parties sign the agreement and any legally required waiting period has passed, the agreement becomes a binding contract.
Outten & Golden attorneys have extensive experience negotiating the terms of settlement agreements and counseling employees to help them understand the value of their claims, what their settlement agreements require, and how to fulfill their obligations under the agreements.
(*Prior results do not guarantee a similar outcome.)