In case this thrilling development has passed anyone by, don’t forget that the government has decided to revolutionise compromise agreements by … changing their name.
All of our various employment laws are being amended so that the term “compromise agreement” will be replaced with the term “settlement agreement”. This will require revisions to everyone’s precedent exit documentation to reflect the change in statutory language.
August is a transition period - half of the employment laws were amended with effect from the beginning of August, and the remaining half will be amended with effect from 30 August.
Any compromise agreements being signed from this month onwards should be updated to reflect the government’s language changes.
