Legal Settlement Sheet

LEGAL SETTLEMENT SHEET

This Legal Settlement Sheet (the "Settlement Sheet") is made and entered into as of Effective Date: by and between Claimant Name: whose address is Claimant Address: (hereinafter "Claimant"), and Respondent Name: whose address is Respondent Address: (hereinafter "Respondent").

RECITALS

WHEREAS, Claimant has asserted certain claims and demands against Respondent arising out of or related to the matters described as: ; and

WHEREAS, the Parties desire to compromise, settle and resolve all disputes between them without admission of liability and according to the terms set forth in this Settlement Sheet; and

WHEREAS, the Parties intend that the terms set forth herein will be binding and enforceable and will govern the final disposition of any and all claims identified herein.

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

1. SETTLEMENT PAYMENT

1.1 Settlement Amount. Respondent agrees to pay Claimant the total gross settlement amount of $ (the "Settlement Amount"), subject to applicable withholdings and allocations described below.

1.2 Payment Method. Payment shall be made by the following method (select one or more):
Check Wire Transfer ACH

1.3 Payment Schedule. Respondent shall pay the Settlement Amount according to the following schedule: . The initial payment shall be due on or before: .

1.4 Allocation. The Parties agree that the Settlement Amount shall be allocated as follows for tax and reporting purposes: . Each Party acknowledges that it is solely responsible for reporting and paying its own taxes unless otherwise specifically stated herein.

2. MUTUAL RELEASES

2.1 Release by Claimant. Upon receipt of the Settlement Amount in accordance with Section 1, Claimant, on behalf of Claimant and Claimant's heirs, executors, administrators, agents, representatives, successors and assigns, hereby irrevocably and unconditionally releases, remises and forever discharges Respondent and Respondent's past, present and future agents, employees, officers, directors, insurers, affiliates and assigns (collectively, the "Respondent Releasees") from any and all claims, demands, actions, causes of action, suits, liabilities and obligations of any kind, whether known or unknown, asserted or unasserted, arising out of or related to the facts described in this Settlement Sheet through the Effective Date, except for the obligations expressly retained under this Settlement Sheet.

2.2 Release by Respondent. Upon payment in full of the Settlement Amount, Respondent, on behalf of Respondent and Respondent's successors and assigns, hereby irrevocably releases, remises and forever discharges Claimant and Claimant's agents, employees, officers, directors, insurers and affiliates from any and all claims arising out of or relating to the matters described herein through the Effective Date.

2.3 Exceptions. The releases provided in Sections 2.1 and 2.2 do not apply to (a) obligations expressly set forth in this Settlement Sheet, (b) claims arising after the Effective Date, or (c) claims that cannot be released as a matter of law. Specific exceptions (if any):

3. CONFIDENTIALITY

3.1 Confidential Terms. Except as required by law or court order, the Parties shall keep the existence, terms and amount of the Settlement confidential. No Party shall disclose such information to any third party except to the extent reasonably necessary to obtain tax advice, insurance coverage, legal advice, or as required for implementation of payment, provided that each recipient is informed of and bound by the confidentiality obligations herein.

3.2 Permitted Disclosures. Notwithstanding the foregoing, disclosures may be made to accountants, attorneys, insurers, or as required by applicable law, provided the disclosing Party uses reasonable efforts to limit disclosure and notify the other Party where legally permissible.

4. REPRESENTATIONS AND WARRANTIES

Each Party represents and warrants that: (a) it has full authority to enter into and perform this Settlement Sheet; (b) the person signing on its behalf is duly authorized; and (c) the execution and performance of this Settlement Sheet do not violate any agreement to which it is a party.

5. NO ADMISSION OF LIABILITY

This Settlement Sheet is a compromise of disputed claims and shall not be construed as an admission of liability, fault or wrongdoing by any Party. No Party shall rely upon this Settlement Sheet as evidence of liability in any proceeding, except to enforce the terms of this Settlement Sheet.

6. TAXES

The Parties acknowledge that they have been advised to obtain independent tax advice. Unless otherwise expressly agreed in writing, each Party shall bear responsibility for its own tax obligations arising from payments received or made under this Settlement Sheet. Any reporting obligations shall be the responsibility of the Party required to issue such reports under applicable law.

7. INDEMNIFICATION

Each Party agrees to indemnify, defend and hold harmless the other Party from and against any and all claims, losses, liabilities, damages, costs and expenses, including reasonable attorneys' fees, arising out of any breach of this Settlement Sheet by the indemnifying Party or any false representation or warranty made by the indemnifying Party herein.

8. COSTS AND ATTORNEYS' FEES

Except as otherwise agreed in a separate written agreement, each Party shall bear its own costs and attorneys' fees incurred in connection with the negotiation, preparation, execution and performance of this Settlement Sheet.

9. NOTICES

Notices to Claimant:

Notices to Respondent:

10. AMENDMENTS; WAIVER

No modification, amendment or waiver of any provision of this Settlement Sheet shall be effective unless in writing and signed by both Parties. No failure or delay by any Party in exercising any right shall operate as a waiver of that right.

11. GOVERNING LAW

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

12. ENTIRE AGREEMENT

This Settlement Sheet constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings, negotiations and discussions, whether oral or written.

13. SEVERABILITY

If any provision of this Settlement Sheet is held to be invalid or unenforceable, such provision shall be deemed modified to the extent necessary to render it enforceable, or if not capable of modification, severed, and the remaining provisions shall remain in full force and effect.

14. COUNTERPARTS

This Settlement Sheet 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. Facsimile and electronic signatures shall be binding for all purposes.

ADDITIONAL PROVISIONS

15.1 Acknowledgment. Each Party acknowledges that it has had the opportunity to consult with legal counsel of its choice and that it has read and understands the terms of this Settlement Sheet.

15.2 Execution by Counsel. The signatures of counsel on behalf of a Party are deemed to confirm counsel's authority to execute this Settlement Sheet on behalf of the Party and to bind the Party to its terms.

Sign Now