Legal Damage Claim Release

Legal Damage Claim Release

This Legal Damage Claim Release (the "Release") is entered into as of by and between Claimant Name: and Releasee Name: . The Claimant is referred to herein as "Claimant" and the Releasee is referred to herein as "Releasee."

Recitals

WHEREAS, on or about , an event occurred that allegedly caused damage to the Claimant described as: ; and

WHEREAS, Claimant has asserted or may assert claims, demands, causes of action, suits, obligations, losses, costs, expenses, and damages, known or unknown, arising out of or related to the incident described above (collectively, the "Claims"); and

WHEREAS, Releasee denies liability but desires to avoid the expense and uncertainty of litigation and to fully resolve and settle all matters between the parties.

Now, Therefore

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

1. Definitions

1.1 "Claims" means any and all claims, actions, causes of action, demands, rights, liabilities, losses, obligations, controversies, damages, costs and expenses (including attorneys' fees), whether known or unknown, suspected or unsuspected, arising out of or related to the incident described in the Recitals.

2. Release and Covenant Not to Sue

2.1 In consideration of the payments and other obligations set forth in this Release, Claimant, on behalf of Claimant and Claimant's heirs, executors, administrators, successors and assigns, hereby irrevocably and unconditionally releases and forever discharges Releasee and Releasee's past, present and future affiliates, insurers, attorneys, agents, employees, officers, directors and assigns (collectively, the "Released Parties") from any and all Claims, whether arising under statute, tort, contract or common law, that Claimant has or may have against the Released Parties as of the Effective Date or which arise out of the incident described in the Recitals.

2.2 Claimant covenants and agrees that Claimant shall not commence, prosecute or maintain any action, suit, arbitration or other proceeding against any Released Party with respect to any Released Claim.

3. Consideration

3.1 In full consideration for the Release set forth in Section 2, Releasee agrees to pay Claimant the sum of (USD) according to the following terms.

4. Scope of Release

4.1 The Release applies to all Claims whether known or unknown, suspected or unsuspected, that arise out of or are connected with the incident described in the Recitals, to the fullest extent permitted by applicable law. Claimant expressly acknowledges that Claimant understands the significance of releasing unknown claims and knowingly assumes the risk of any such unknown claims.

4.2 The Release does not apply to any right or claim arising after the Effective Date that is unrelated to the incidents and facts described in the Recitals.

5. Claim Information and Consideration Allocation

Total Claimed Amount: $

6. Representations and Warranties

6.1 Claimant represents and warrants that Claimant has the full right, power and authority to enter into this Release and to grant the releases contained herein; that Claimant has not assigned or transferred any rights related to the Claims to any third party; and that there are no existing court orders, liens or encumbrances that would impair Claimant's ability to execute this Release.

6.2 Each party represents that it has consulted or has had the opportunity to consult with counsel of its choice prior to executing this Release, and that the terms hereof are fair and reasonable under the circumstances.

7. No Admission of Liability

The parties agree that this Release and any payments made hereunder are not and shall not be construed as an admission of liability or fault by Releasee, all such liability being expressly denied.

8. Indemnification

Claimant agrees to indemnify and hold harmless the Released Parties from and against any and all losses, claims, demands, suits, liabilities, damages and expenses (including reasonable attorneys' fees) arising out of any breach of Claimant's representations, warranties or covenants in this Release, or out of any third party claim purporting to derive from Claimant's Claims.

9. Confidentiality

Except as required by law or as necessary to enforce this Release, Claimant and Releasee agree to keep the terms, amount and existence of this Release confidential and not to disclose such information to any third party, provided that disclosure to counsel, accountants, tax advisors, insurers or immediate family members is permitted if they agree to be bound by confidentiality.

10. Notices

All notices required or permitted under this Release shall be in writing and delivered by hand, certified mail (return receipt requested), or nationally recognized overnight courier to the addresses set forth below (or to such other address as a party may designate by written notice):

11. Governing Law

This Release shall be governed by, and construed in accordance with, the laws of the State of , without regard to its conflict of laws principles.

12. Entire Agreement

This Release constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, negotiations, representations and understandings, whether written or oral, relating thereto.

13. Severability

If any provision of this Release is held to be invalid, illegal or unenforceable in any respect, such provision shall be severed and the remaining provisions shall remain in full force and effect.

14. Amendments; Waiver; Counterparts

This Release may only be amended or modified by a written instrument signed by both parties. No waiver of any breach of any provision hereof shall be deemed a waiver of any prior or subsequent breach. This Release may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

15. Miscellaneous

The headings used herein are for convenience only and shall not affect the interpretation of this Release. The parties acknowledge that they have read and understand this Release and that they sign it voluntarily.

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