The Termination/Compensation Letter
is required once a Settlement Agreement has been completed with the employee. The letter requests that the employee should leave immediately. It confirms the sum paid as settlement, which is inclusive of any statutory redundancy entitlement or payment in lieu of holiday. The employee is instructed to return all company property by a certain date or prior to receipt of the compensation settlement.
For more information on Settlement Agreements (previously called Compromise Agreements) please read our useful Information Page entitled Settlement Agreement
This Termination/Compensation Letter
template is in open format. Either enter the requisite details in the highlighted fields or adjust the wording to suit your purposes.