Your lawyer will explain the consequences. For any legal questions related to recruitment agreements, please contact our employment lawyers in Hounslow, Slough or Twickenham or use the contact form on the right to get in touch. However, the appropriate legal term is „settlement agreement“. A transaction agreement includes and precedes the payment of your salary, benefits, bonus, accrued leave and all expenses up to the date of termination. All benefits that you will receive as employees, such as life insurance or health insurance, end on the date of termination, unless otherwise provided in the transaction agreement. A settlement agreement provides that the worker returns the employer`s property within a specified period of time. If you are allowed to retain such ownership from the employer, it is important that this is stipulated in the settlement agreement.