Docstoc

Settlement Agreement Release of All Claims for Breach of Contract

Document Sample
Settlement Agreement Release of All Claims for Breach of Contract Powered By Docstoc
					This is an agreement between two parties that are currently involved in a contract
dispute for the settlement of claims. This agreement sets forth the terms between two
parties for the payment of monetary compensation to one party in exchange for the
forbearance of all breach of contract claims against the other party. This agreement
should be used by small businesses or individuals that are currently involved in a
contract dispute but want to settle their claims outside the courtroom.
                                Settlement Agreement Release of All Claims
                                            Breach of Contract

This Release and Settlement Agreement (“Settlement Agreement”) is dated this __ day of ____,
20__ [Instruction: Insert date.] by and between ____ [Instruction: Insert first party’s full
legal name.], a duly formed ____ [Instruction: Insert entity formation type and state.]
(“____”), [Instruction: Insert first party nickname to be used throughout document.
Herein, the name “Party 1” will be used for ease of reference, but same should be replaced
throughout with the chosen nickname.] and _____ [Instruction and Comment: Insert second
party’s full legal name. If second party is also a corporate entity, follow language above
and include such disclosure information. Herein, the name “Party 2” will be used for ease
of reference, but same should be replaced throughout with the chosen nickname. If any
additional parties are included herein, follow with further similar disclosure regarding any
such additional parties]. WHEREAS, Party 1 and Party 2 entered into an _____ [Instruction:
Insert brief description of contract entered into between the parties.], agreement dated
_____ [Instruction: Insert agreement date.], (the “Agreement”);

WHEREAS, _____ [Instruction: Insert any details of Agreement which led to
disagreement.];

WHEREAS, a dispute arose between Party 1 and Party 2 with respect to ____ [Instruction:
Insert brief description of disagreement between parties, include reference to specific
sections of the Agreement, if available.]; and

WHEREAS, the parties hereto desire to resolve all disputes arising between themselves
including, but not limited to, all disputes relating to the Agreement;

NOW, THEREFORE, in consideration of the promises and conditions set forth herein, the
sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

1. In exchange for (i) a payment to ____ [Instruction: Insert party to be paid.], by _____
   [Instruction: Insert party to make payment.], in the amount of _____ United States
   Dollars ($_____),[Instruction: Insert written amount of monetary compensation,
   followed by numerical representation of same in parentheses.], which payment shall be
   made ____ [Instruction: Insert when payment must be made.], days after receipt by
   _____ [Instruction: Insert name of party receiving money.], of this fully executed
   Settlement Agreement, provided that ____ [Instruction and Comment: Insert name of
   party permitted to revoke acceptance of Agreement. If neither party shall be permitted
   to revoke, delete reference to this, upon review of applicable state statute, if any.], does
   not revoke his acceptance of this Settlement Agreement within the seven day revocation
   period, and (ii) ____ [Instruction: Insert name of party forbearing from bringing
   claims.], forbearance of asserting claims against ____ [Instruction: Insert name of party
   receiving monetary compensation.], hereby fully, forever, irrevocably and unconditionally
   releases, remises and discharges ____ [Instruction: Insert name of party being released.],
   and its subsidiaries and affiliates and each of their current or former officers, directors,
   stockholders, attorneys, agents, or employees (collectively, the “Released Parties”) from any
© Copyright 2013 Docstoc Inc. registered document proprietary, copy not              2
    and all claims, charges, complaints, demands, actions, causes of action, suits, rights, debts,
    sums of money, costs, accounts, reckonings, covenants, contracts, agreements, promises,
    doings, omissions, damages, executions, obligations, liabilities and expenses (including
    attorneys' fees and costs), of every kind and nature, known or unknown, which he ever had or
    now has against the Released Parties whether presently known or unknown, suspected or
    unsuspected, that any of them may possess arising from any omissions, acts or facts that have
    occurred up until and including the date of this Settlement Agreement including, but not
    limited to the Agreement, all claims and damages relating to race, sex, national origin,
    handicap, religious, sexual orientation, benefits and age discrimination, all common law
    claims including, but not limited to, actions in tort, defamation, breach of contract and any
    claims under any other federal, state or local statutes or ordinances not expressly referenced
    above. This release does not extend to any obligations incurred pursuant to this Settlement
    Agreement. [Comment: Parties should review any applicable state and federal statutes
    and include reference to same here, as necessary. Same may include but are not limited
    to statutes regarding the Americans with Disabilities Act, unemployment compensation
    acts, age discrimination statutes, among others.]. [Comment: If any additional
    consideration has been or is being provided, include reference to same here.]

2. The parties hereto understand and agree that the terms and contents of this Settlement
   Agreement, and the contents of the negotiations and discussions resulting in this Settlement
   Agreement, shall be maintained as confidential, and none of the above shall be disclosed
   except to the extent required by federal or state law. Notwithstanding the foregoing, each of
   the parties to this Settlement Agreement shall be permitted to discuss the terms of this
   Settlement Agreement and the contents of any negotiations and/or discussions resulting in
   this Settlement Agreement with their respective attorneys, accountants and senior advisors,
   subject to such persons also being subject to such confidentiality requirements.

3. The Parties agree that any and all disputes arising out of the terms of this Settlement
   Agreement, their interpretation, and 
				
DOCUMENT INFO
Shared By:
Tags:
Stats:
views:1033
posted:12/8/2011
language:English
pages:6
Description: This is an agreement between two parties that are currently involved in a contract dispute for the settlement of claims. This agreement sets forth the terms between two parties for the payment of monetary compensation to one party in exchange for the forbearance of all breach of contract claims against the other party. This agreement should be used by small businesses or individuals that are currently involved in a contract dispute but want to settle their claims outside the courtroom.
Customize This Document Instantly download your personalized document Guided Fill-in-the-Blank Process