Settle with, having had a rise (3,2)
I believe the answer is:
pay up
'settle' is the definition.
(paying up is a kind of settling)
'having had a rise' is the wordplay.
'having' becomes 'pay' (I can't justify this - if you can you should give a lot more credence to this answer).
'had' means one lot of letters go next to another.
'a rise' becomes 'up' (as a noun).
'pay'+'up'='PAY UP'
'with' is the link.
Can you help me to learn more?
(Other definitions for pay up that I've seen before include "Discharge a debt" , "Hand over the money" , "Give me the money!" , "Settle" .)