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Simple Compromise Agreement

26 January 2010

We frequently provide swift and cost efficient advice on compromise agreements in order that they can be signed off within a week or even a couple of days. Recently we advised on a compromise agreement in a redundancy situation between an employee and an investment bank. The employee was happy with the level of compensation being offered and the agreement was in fairly standard terms. We were initially contacted by the employee on a Thursday. We provided a written note of advice as to the terms and effect of the agreement on the Monday and discussed this with the client. The agreement was concluded on the Tuesday. The employee was able to sign up to the agreement and their enhanced compensation, with minimal stress and without exceeding the contribution to legal fees being made by their employer.