Employers and employees may find themselves in litigation with one another over the breach of an employment contract, the theft of trade secrets, the breach of a non-compete agreement, or a discrimination or retaliation matter. If the parties are like most parties to litigation, they will resolve their dispute with a settlement agreement instead of proceeding to trial. Most parties prefer to settle cases to avoid the expense of litigation and the uncertainty of a decision made by a judge or jury.
What Does a Settlement Agreement Typically Contain?
A settlement agreement typically contains terms that are negotiated by the attorneys for each party. Oftentimes, one party will agree to pay the other party, either with a lump sum payment or according to a payment plan. Most settlement agreements also contain releases, whereby each party releases the other from all other possible claims. In turn, this completely resolves all issues between them. Some settlement agreements contain non-disparagement clauses, whereby the parties agree not to speak badly about each other to third parties. Settlement agreements also usually contain miscellaneous provisions, such as provisions regarding the parties’ choice of law or jurisdiction.
To speak to an employment attorney about an employment-related issue, contact the employment lawyers at Rogge Dunn Group at info@roggedunngroup.com.
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