In these difficult economic times, many employees may face layoffs. If you are offered a settlement agreement as a result of terminations, it is important that you understand your rights and the rights you may waive if you sign the agreement. Our employment law team describes here the most important facts you need to know when a settlement agreement is offered to you and how we can help you answer additional questions. A settlement agreement (formerly known as a compromise agreement) is a legally binding contract between you and your employer, which is used to end any type of dispute in the workplace. In its simplest form, it includes a termination agreement (which may include your termination, a tax-exempt amount, dismissal, leave, bonus, and other amounts). . . .