Legal COT3 Form

COT3 SETTLEMENT AGREEMENT

This COT3 Settlement Agreement (the Agreement) is made on between Employer Name: of (Employer) and Employee Name: of (Employee).

RECITALS

WHEREAS the Employee commenced employment with the Employer on and the employment terminated/was terminated on or about ;

WHEREAS a dispute has arisen between the parties concerning the Employee's employment and its termination and the parties wish to resolve all differences and avoid further proceedings and costs; and

WHEREAS the parties have agreed to record their settlement terms by means of this written Agreement which is intended to have immediate effect and to be legally binding on the parties.

NOW THEREFORE the parties agree as follows:

1. SETTLEMENT PAYMENT

1.1 The Employer agrees to pay the Employee a total sum of: (the Settlement Payment) by the method and on the date set out below.

1.2 Allocation: The parties agree that the Settlement Payment shall be allocated as follows (for tax and record purposes):

1.3 Payment timing and method: The Settlement Payment will be paid on or before by:

Bank transfer to account below

2. TERMINATION AND EMPLOYMENT STATUS

2.1 The parties record that the Employee's employment with the Employer ends on and that this Agreement constitutes the full and final settlement of any entitlement to pay in lieu of notice, holiday pay, bonuses or other remuneration except as expressly stated herein.

2.2 The Employee acknowledges receipt of any statutory or contractual payments due up to the termination date except as otherwise expressly provided in this Agreement.

3. RELEASE AND CLAIMS

3.1 In consideration of the Settlement Payment, the Employee releases and forever discharges the Employer and its officers, directors, agents, successors and assigns from all claims, demands, actions and liabilities of whatever nature which the Employee has or may have arising out of or in connection with the employment and its termination up to the date of this Agreement, whether known or unknown, including but not limited to statutory, contractual and tort claims.

3.2 The Employee acknowledges that nothing in this Agreement limits rights that cannot be validly contracted away by law (including claims arising after the date of this Agreement or claims in respect of personal injury where statute does not permit settlement).

4. CONFIDENTIALITY AND REFERENCES

4.1 The parties agree that the terms of this Agreement and the circumstances giving rise to it are confidential and shall not be disclosed to any third party save as required by law, to professional advisers for the purpose of obtaining advice, or with the prior written consent of the other party.

4.2 The Employer will provide a factual reference relating to dates of employment and job title only, unless otherwise agreed in writing below.

5. TAXATION AND NATIONAL INSURANCE

5.1 The parties acknowledge that the tax and national insurance treatment of the Settlement Payment is a matter for the relevant authorities. The Employer will comply with applicable withholding and reporting obligations and will deduct any income tax and national insurance contributions where legally required.

6. RETURN OF PROPERTY

6.1 The Employee warrants that upon execution of this Agreement the Employee will have returned to the Employer all property, documents, keys, computer equipment and confidential information belonging to the Employer. Any outstanding items are set out below.

7. COSTS AND LEGAL ADVICE

7.1 Each party shall bear its own legal and other costs in respect of the negotiation and entry into this Agreement unless otherwise expressly stated in writing.

7.2 The Employee confirms that prior to signing this Agreement the Employee has had the opportunity to obtain independent legal advice about the terms and effect of this Agreement and the consequences of the release given herein.

8. NON-DISPARAGEMENT

8.1 Each party agrees not to make any statement, whether written or oral, which disparages the reputation of the other party, its officers or employees. This clause shall not prevent either party from making any truthful statement required by law or to statutory authorities.

9. NOTICES

9.1 Any notice required or permitted to be given under this Agreement shall be in writing and signed by or on behalf of the party giving the notice and delivered personally or sent by recorded delivery or email (if agreed) to the addresses set out below or such other address as may be notified in writing.

10. GENERAL PROVISIONS

10.1 Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the jurisdiction in which the employment was principally carried out and the parties submit to the exclusive jurisdiction of the relevant courts.

10.2 Entire Agreement: This Agreement constitutes the entire agreement between the parties in relation to its subject matter and supersedes all prior agreements, representations and understandings, whether written or oral.

10.3 Severability: If any provision of this Agreement is held to be invalid or unenforceable, such invalidity or unenforceability shall not affect the remaining provisions which shall remain in full force and effect.

10.4 Amendments: No amendment to this Agreement shall be effective unless it is in writing and signed by both parties.

10.5 Waiver: No failure or delay by either party in exercising any right under this Agreement shall operate as a waiver of that right.

10.6 Counterparts: This Agreement may be executed in counterparts each of which when executed shall be an original and all of which together shall constitute one and the same instrument.

CERTIFICATION AND FINAL MATTERS

The parties confirm that they enter into this Agreement voluntarily and that the Employee has had a reasonable period and opportunity to consider the terms and, where appropriate, to obtain independent legal advice. The parties further confirm that they understand the terms and legal effect of this Agreement.

Employee has obtained independent legal advice:

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