Contract Release for Warranty Claim

CONTRACT RELEASE FOR WARRANTY CLAIM

This Contract Release for Warranty Claim (the Agreement) is made and entered into as of the Effective Date set forth below by and between Claimant Name: with principal address at Claimant Address: ("Claimant"), and Company Name: with principal address at Company Address: ("Releasee").

RECITALS

WHEREAS, Claimant asserts a warranty-based claim arising from the purchase, repair, or alleged defect of the product described as Product Description: (the "Product"); and

WHEREAS, Claimant submitted Claim Reference Number: and seeks recovery for alleged damages, repairs, replacement, costs, or other relief arising from the Product; and

WHEREAS, Releasee is willing to provide consideration and resolve the disputed warranty claim on the terms set forth in this Agreement to avoid further expense and litigation.

NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

1. DEFINITIONS

For purposes of this Agreement: "Claim" means any allegation, cause of action, demand, suit, liability, loss, damage, cost or expense (including attorneys' fees) arising out of or relating to the Product or the warranty, whether known or unknown, asserted or unasserted, past, present or future. "Released Claims" means the Claims released by Claimant pursuant to Section 2 below.

2. RELEASE AND COVENANT NOT TO SUE

In consideration of the promises and consideration set forth in this Agreement, Claimant, on behalf of Claimant and Claimant's heirs, executors, administrators, agents, representatives, insurers, successors and assigns, hereby fully and forever releases and discharges Releasee, and Releasee's past and present parents, subsidiaries, affiliates, officers, directors, employees, agents, insurers and attorneys (collectively, the "Releasee Parties"), from any and all Released Claims that arise out of or relate to the Product, the warranty for the Product, any repairs, inspections, or testing performed by or on behalf of Releasee, or any conduct, acts or omissions occurring prior to the Effective Date of this Agreement.

Notwithstanding the foregoing, the Release shall not extend to liabilities arising from (a) Claimant's fraud, intentional misrepresentation or willful misconduct, or (b) claims that cannot be released as a matter of applicable law. Claimant covenants and agrees not to institute or prosecute any action, claim or proceeding against any Releasee Party based upon any Released Claim.

3. CONSIDERATION

As full and final consideration for the Release and covenants contained herein, Releasee agrees to provide the following consideration to Claimant:

Payment or other performance shall be completed by Performance Date: in accordance with the terms set forth herein. Receipt of consideration by Claimant constitutes full satisfaction of the Released Claims described herein.

4. PAYMENT TERMS

If a monetary payment is part of the consideration, Releasee shall deliver payment to Claimant by Payment Method: to the following payment details or address: within the time period specified above.

5. REPRESENTATIONS AND WARRANTIES

Claimant represents and warrants that Claimant is the sole owner of the Released Claims, that Claimant has full authority to execute this Agreement and grant the release contained herein, that no assignment of the Released Claims has been made, and that to the best of Claimant's knowledge no other person or entity has an interest in the Released Claims. Claimant further represents that Claimant has not transferred or assigned any interest in the Released Claims to any third party.

6. INDEMNIFICATION

Claimant shall indemnify, hold harmless and defend the Releasee Parties from and against any and all losses, liabilities, damages, costs and expenses (including reasonable attorneys' fees) arising from any breach of Claimant's representations, warranties or covenants under this Agreement, or from any claim by a third party alleging rights in or to the Released Claims.

7. CONFIDENTIALITY

Except as required by law or as necessary to enforce this Agreement, the parties agree to keep the terms, amounts and circumstances of this Agreement confidential and not to disclose such information to any third party. Notwithstanding the foregoing, disclosures to counsel, accountants, spouses or as required by a court of competent jurisdiction are permitted.

8. NO ADMISSION OF LIABILITY

This Agreement is entered into for the purpose of compromising and settling disputed claims and shall not be construed as an admission of liability, fault or wrongdoing by any Releasee Party, all such liability being expressly denied.

9. NOTICES

All notices, requests, demands or other communications required or permitted under this Agreement shall be in writing and shall be given to the parties at the addresses set forth below (or such other address as either party may designate in writing):

10. GOVERNING LAW; VENUE

This Agreement shall be governed by and construed in accordance with the laws of the State of without regard to its conflicts of law principles. The parties agree that any dispute arising out of or relating to this Agreement shall be exclusively venued in the state or federal courts located in the county where Releasee has its principal place of business.

11. ENTIRE AGREEMENT; SEVERABILITY; AMENDMENT; WAIVER; COUNTERPARTS

This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous oral and written agreements, negotiations and understandings. If any provision of this Agreement is held to be invalid or unenforceable by a court of competent jurisdiction, the remainder of this Agreement shall remain in full force and effect. This Agreement may be amended or modified only by a written instrument signed by both parties. Failure by a party to enforce any provision of this Agreement shall not be deemed a waiver of future enforcement of that or any other provision. This Agreement may be executed in counterparts, each of which shall be deemed an original, and all of which together shall constitute one and the same instrument.

12. FURTHER ASSURANCES

Each party agrees to execute and deliver such further instruments and take such further actions as may be reasonably necessary to effectuate the purposes of this Agreement.

13. ACKNOWLEDGMENT OF VOLUNTARY EXECUTION

Claimant acknowledges that Claimant has read this Agreement, understands its terms, has had the opportunity to consult with legal counsel, and executes this Agreement voluntarily and without coercion.

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