Redundancy compromise agreements
A redundancy compromise agreement is the old name of what is now called a 'settlement agreement'.
It is a legally binding contract that an employer provides to an employee to settle a claim that the employee might have.
Usually, a settlement agreement or compromise agreement is provided when an employer has made the employee redundant.
A compromise agreement or settlement agreement is legally binding and asides from under exceptional circumstances, once signed you will not be able to re-negotiate.
It is vital you get professional advice and your employer will usually pay for the costs.