For many people, a contract of employment will be the most valuable contract they sign in their life. How many people seek legal advice on contracts of employment before signing them?
The answer in our experience is relatively few, even fairly senior employees.
There are lots of issues that employees may not consider when signing a contract that proper legal advice could avoid, for example:
- Job security, particularly for high earners where awards for unfair dismissal are unlikely to reflect true losses.
- Tax consequences of PILON clauses on pay in lieu of notice on termination of employment.
- Restrictive covenants.
- Short time working and lay off provisions.
- Good leaver provisions in bonus, commission, share and share option agreements.
- Other unreasonable or excessively harsh provisions – one contract I saw said that if the employee breached a particular clause in his contract he would have to pay his employer £1,000.00 for every day he breached that clause!
We have considerable experience of disputes that arise with employers on the termination of employment and are therefore in an excellent position to advise on contractual provisions to help prevent such disputes and protect employees’ positions generally. Contract reviews for employees are available from £150 plus VAT – contact us on 08448 505805 for more information.