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Ben Jones
Ben Jones, UK Lawyer
Category: Employment Law
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I am currently negotiating a settlement agreement with my employers

Resolved Question:

I am currently negotiating a settlement agreement with my employers and they have put an offer on the table regarding my loan notes and shares, however they have now established that to fulfil the offer will mean having to give some level of transparency of the settlement to other loan note holders which they do not want to do.
They have since offered an ex gratia in exchange for, but at the moment the financials are not favourable to me circa £500-£1000 worse off where the company if £2226 better off in cash terms.
My question is can they withdraw the current offer on the table without a fair agreed offer to compensate - ie can I hard ball them a bit knowing that they have to continue with current offer unless we can agree a different one
Thanks
Submitted: 2 years ago.
Category: Employment Law
Expert:  Ben Jones replied 2 years ago.
Hello, my name is ***** ***** it is my pleasure to assist you with your question today. The current offer is not binding in any way - it is just an offer, open to negotiation. Until a settlement agreement is formally agreed and signed by both parties and you have taken formal legal advice, it is not binding on anyone. So either party can vary the terms of the current offer and replace it with any offer of their choosing, even if it no longer reflects the original one. If you do not like what is on offer then you do not have to accept it but similarly, the other side does not have to offer what you believe they should. It is all about negotiating and coming to something you both agree on but it does not mean you will get what you were hoping for.
You may of course press them for a better offer and use whatever information you have to achieve that but you simply cannot force them to match the original offer or offer an alternative which you would be happy with.
I hope this has answered your query. Please take a second to leave a positive rating, or if you need me to clarify anything before you go - please get back to me and I will assist further as best as I can. Thank you
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