As a worker, in difficult circumstances, a transaction contract may be the best possible option, for the following reasons: this can also be described as compensation or redundancy payment. Whatever the name, it is the payment your employer pays you to get you to sign the transaction contract. Sick leave can help increase the amount you should receive in your comparison contract, especially if you have a lot of paid absenteeism. However, the appropriate legal term is „transaction agreement.“ Our advice in such a scenario would be to settle, for example, for a three-month out-of-court settlement agreement of tax exemption. Similarly, all the time being wasted and potential legal fees – why not suggest you pay this now in a settlement contract and you will leave quietly? Let`s start with the obvious question: what is a transaction contract? While almost all settlement agreements explicitly stipulate that the employee receives his salary, the position of the benefits is sometimes less clear. We recommend that this be taken into account specifically to avoid any doubts. You would tend to get more in your settlement contract, where you worked for your employer for a long time, because you probably forged more loyalty there. Your knowledge of the business could also be greater, so things like transfers are more valuable. Your employer will discuss with you what should be in the agreement, either face to face or in writing. Has your employer offered you a transaction contract (formerly known as a compromise agreement)? If so, before making a permanent decision on your future, there are a number of questions you – and your employer – need to ask yourself to make sure you get the best possible deal: if you have reached an agreement during a trial and the court suspends your right for a certain period of time („stays“) can ask the court to reinstate your right if your employer does not fulfill its share of the agreement in that delay. The first $30,000 of the transaction amount is tax-exempt, while all payments for contractual fees (e.g.
B, termination, unpaid annual leave or contractual bonus) are subject to the usual tax and social deductions.