1. 1. Nothing in this chapter shall be construed as preventing the parties to claims hereunder from entering into voluntary agreements in settlement thereof, but no agreement by an employee or his dependents to waive his rights under this chapter shall be valid, nor shall any agreement of settlement or compromise of any dispute or claim for compensation under this chapter be valid until approved by an administrative law judge or the commission, nor shall an administrative law judge or the commission approve any settlement which is not in accordance with the rights of the parties as given in this chapter. No such agreement shall be valid unless made after seven days from the date of the injury or death.
2. 2. A compromise settlement approved by an administrative law judge or the commission during the employee's lifetime shall extinguish and bar all claims for compensation for the employee's death if the settlement compromises a dispute on any question or issue other than the extent of disability or the rate of compensation.
3. 3. Notwithstanding the provisions of section 287.190, an employee shall be afforded the option of receiving a compromise settlement as a one-time lump sum payment. A compromise settlement approved by an administrative law judge or the commission shall indicate the manner of payment chosen by the employee.
4. 4. A minor dependent, by parent or conservator, may compromise disputes and may enter into a compromise settlement agreement, and upon approval by an administrative law judge or the commission the settlement agreement shall have the same force and effect as though the minor had been an adult. The payment of compensation by the employer in accordance with the settlement agreement shall discharge the employer from all further obligation.

(RSMo 1939 § 3723, A.L. 1959 S.B. 167, A.L. 1965 p. 397, A.L. 1977 S.B. 400, A.L. 1983 S.B. 44 & 45, A.L. 1990 S.B. 751)

Prior revision: 1929 § 3333

1964) In action by employee against employers for breach of alleged oral contract for lifetime employment, held that the promise of lifetime employment which was not included in the written settlement agreement approved by the division of workmen's compensation, was void and unenforceable. Sheets v. Hill Bros. Distributors, Inc. (Mo.), 379 S.W.2d 514.

(1964) The liabilities of the second injury fund and of the employer are separate and compromise and settlement by the claimant with either does not release the other. Grant v. Neal (Mo.), 381 S.W.2d 843.