Reaffirmation agreement (two-stage settlement)

Published by a LexisNexis Employment expert
Precedents

Reaffirmation agreement (two-stage settlement)

Published by a LexisNexis Employment expert

Precedents
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This reaffirmation Agreement is made on [insert date]

Parties

  1. 1

    [Insert Employer’s name] whose Registered office is at [insert Employer’s address], company registration number [insert Employer’s company number] (‘Employer’); and

  1. 2

    [Insert Employee’s name] of [insert Employee’s address] (‘you’)

the parties agree:

    1. 1

      Settlement agreement

      1. 1.1

        This Reaffirmation Agreement is being entered into in accordance with Clause [insert number] of the settlement agreement between the parties dated [insert date] (‘Agreement’).

      1. 1.2

        In this Reaffirmation Agreement, words and expressions shall have the same meanings as defined in the Agreement[ except that in this Reaffirmation Agreement ‘Adviser’ means [insert name of Adviser] of [insert name of Adviser’s firm/organisation] of [insert address]].

      1. 1.3

        This Reaffirmation Agreement is being entered into in consideration of the Employer agreeing to pay you the Compensation Payment under the Agreement.

    1. 2

      Full and final settlement

      1. 2.1

        You acknowledge and agree that the Agreement is made[ without any admission of liability on the part of the Employer] in full and final settlement of the claims set out in Clauses [2.2, ]2.3 and 2.4, but excluding,

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Jurisdiction(s):
United Kingdom
Key definition:
Settlement definition
What does Settlement mean?

The payment or collection of proceeds after trading a security. Settlement usually takes place some time after the deal and price are agreed.

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