ADR Settlement Order

ADR SETTLEMENT ORDER

This ADR Settlement Order (the Order) is entered by and between Claimant: and Respondent: in the matter identified as Case Number: before the ADR Tribunal/Court: .

Recitals

WHEREAS, the Parties participated in alternative dispute resolution proceedings on or about for resolution of disputes arising from the matters alleged in the above-captioned case; and

WHEREAS, the Parties have reached a settlement agreement memorialized in a written Settlement Agreement executed by the Parties on setting forth the terms and conditions for resolution of all claims between them; and

WHEREAS, the Parties have requested that the Tribunal/Court enter this Order to enforce certain settlement obligations and to provide for dismissal with prejudice as set forth below;

Now therefore

NOW THEREFORE, in consideration of the mutual covenants and promises contained in the Settlement Agreement and for good and valuable consideration, the sufficiency of which is acknowledged, the Tribunal/Court ORDERS and the Parties STIPULATE as follows:

1. Definitions

For purposes of this Order, capitalized terms used herein shall have the meanings set forth in the Settlement Agreement, and the following terms are defined as required: "Effective Date" means the date upon which the last required Party signs this Order, which shall be reflected in the signature block below.

2. Settlement Payment

Respondent shall pay Claimant the total gross Settlement Amount of $ (the Settlement Amount) in accordance with the following schedule and instructions.

All payments shall be made in lawful currency and shall be sent to the payee and address specified in the Settlement Agreement unless otherwise agreed in writing by the Parties.

3. Dismissal and Entry of Judgment

Upon fulfillment of the obligations set forth in Paragraph 2, the Parties shall file a stipulated dismissal with prejudice of all claims and counterclaims in the above-captioned matter. To the extent a Party fails to make payments as required, the Parties consent to entry of a judgment in a court of competent jurisdiction to enforce the monetary obligations of the defaulting Party.

4. Mutual Release

Except as otherwise expressly provided in the Settlement Agreement or this Order, each Party, on behalf of itself and its heirs, successors and assigns, hereby fully and finally releases and forever discharges the other Party and its affiliates, officers, directors, employees, agents and attorneys from all claims, demands, liabilities and causes of action, whether known or unknown, that were or could have been asserted in the ADR proceedings or the litigation through the Effective Date.

5. Confidentiality

The Parties agree that the terms, existence and communications regarding the Settlement Agreement and this Order shall remain confidential as provided in the Settlement Agreement, except as required by law or by order of a tribunal of competent jurisdiction. Any compelled disclosure shall be governed by the notice procedures described in the Settlement Agreement.

6. Enforcement and Remedies

The Tribunal/Court retains jurisdiction to enforce this Order and the Settlement Agreement. Remedies for breach include specific performance, recovery of damages, costs of enforcement, and an award of reasonable attorneys' fees to the prevailing Party where authorized by agreement or applicable law.

7. Costs and Fees

Except as expressly provided in the Settlement Agreement or ordered by the Tribunal/Court, each Party shall bear its own costs and attorneys' fees incurred in connection with the ADR proceedings and the underlying litigation.

8. Notices

All notices required or permitted under this Order shall be in writing and delivered to the addresses set forth below or to such other address as a Party designates by written notice to the other Party in accordance with this provision.

9. Amendments; Waiver; Counterparts

This Order may be amended only by a written instrument executed by both Parties and approved by the Tribunal/Court where required. No failure or delay by any Party in exercising any right, power or remedy shall operate as a waiver. This Order may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument.

10. Governing Law; Entire Agreement; Severability

This Order shall be governed by and construed in accordance with the laws of the state identified by the Parties as the governing jurisdiction: without regard to its conflict of laws principles.

This Order, together with the Settlement Agreement, constitutes the entire agreement between the Parties with respect to the matters set forth herein and supersedes all prior and contemporaneous understandings and agreements. If any provision of this Order is held invalid or unenforceable, the remaining provisions shall remain in full force and effect.

11. Certification

Each Party certifies that the person signing on its behalf below is duly authorized to execute this Order and to bind the Party to the terms contained herein.

Sign Now