Legal Stipulated Decree

LEGAL STIPULATED DECREE

This Stipulated Decree (the "Decree") is entered into as of by and between Plaintiff: (hereinafter "Plaintiff"), and Defendant: (hereinafter "Defendant").

RECITALS

WHEREAS, Plaintiff initiated the action styled bearing Case No. , pending in the .

WHEREAS, the Parties have engaged in negotiations and desire to settle and resolve all claims, causes of action, disputes, and controversies asserted or that could have been asserted in the action on the terms set forth herein; and

WHEREAS, the Parties intend that this Decree shall resolve the matters identified in this action without further litigation, subject to the terms and conditions set forth below.

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

1. DEFINITIONS

For purposes of this Decree, the following terms shall have the meanings ascribed below: "Action" means the litigation identified above; "Parties" means Plaintiff and Defendant collectively; "Decree" means this Stipulated Decree and the exhibits attached hereto, if any.

2. FINDINGS

The Parties stipulate and the Court finds that subject-matter jurisdiction and venue are proper and that the terms of this Decree are fair, reasonable, and in the public interest given the circumstances of the Action.

3. SETTLEMENT PAYMENT AND TERMS

Defendant shall pay to Plaintiff, or Plaintiff's designated escrow agent, the sum of $ (the "Settlement Amount") in full and final settlement of all claims resolved by this Decree.

Payment shall be made no later than . Payment shall be by certified funds, wire transfer, or other method mutually agreed in writing by the Parties.

4. RELEASES

Upon receipt of the Settlement Amount in accordance with Section 3, Plaintiff, on behalf of itself and its agents, heirs, successors, assigns and attorneys, hereby fully and forever releases and discharges Defendant and its officers, directors, employees, agents, successors and assigns from all claims, demands, liabilities, actions and causes of action, whether known or unknown, arising from or related to the Action through the Effective Date.

This release is not an admission of liability by Defendant and shall not be construed as an admission for any purpose.

5. DISMISSAL

Upon the Parties' compliance with the payment and other obligations under this Decree, the Parties shall jointly move the Court for an order dismissing the Action with prejudice. The Parties agree to file such motion within days after satisfaction of the conditions precedent described herein.

6. INJUNCTIVE RELIEF AND PERFORMANCE

If this Decree requires any affirmative act by a Party, that Party shall perform such act in accordance with the schedule set forth herein. Failure to perform an obligation under this Decree shall constitute a breach, entitling the non-breaching Party to seek any and all remedies available at law or in equity, including specific performance, contempt, or other enforcement by the Court.

7. ATTORNEYS' FEES AND COSTS

Unless otherwise stated herein, each Party shall bear its own attorneys' fees, costs and expenses incurred in connection with the Action and the negotiation and entry of this Decree, except that if a Party breaches this Decree and the non-breaching Party obtains enforcement by the Court, the prevailing non-breaching Party shall be entitled to recover reasonable attorneys' fees and costs incurred in enforcing this Decree.

8. CONFIDENTIALITY

The Parties hereby agree that the terms, amounts, and existence of this Decree shall be kept confidential except as required by law or as necessary to enforce the Decree. Disclosure to counsel, accountants, or as required for tax reporting shall not constitute a breach of this paragraph provided each recipient is informed of the confidentiality obligations.

9. NOTICES

Notices shall be effective upon receipt when delivered personally, by certified mail (return receipt requested), or by nationally recognized overnight courier to the addresses provided above or to such other address as a Party designates in writing.

10. AMENDMENTS; WAIVER; COUNTERPARTS

This Decree may be amended, modified or supplemented only by a written instrument signed by both Parties. No waiver of any provision hereof shall be effective unless in writing and signed by the Party against whom enforcement is sought. This Decree may be executed in counterparts, each of which shall be an original, and all of which together shall constitute one instrument.

11. GOVERNING LAW; JURISDICTION

This Decree shall be governed by and construed in accordance with the laws of the State of without regard to its conflict of laws principles. The Parties submit to the exclusive jurisdiction of the courts of that State for any dispute arising under this Decree and agree that the Court shall retain jurisdiction to enforce the terms of this Decree.

12. ENTIRE AGREEMENT; SEVERABILITY

This Decree constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, representations and understandings, whether oral or written. If any provision of this Decree is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect and the Parties shall negotiate in good faith to replace the invalid or unenforceable provision with a valid and enforceable provision that, to the maximum extent possible, implements the intent of the original provision.

MISCELLANEOUS CERTIFICATIONS

Each signatory below represents and warrants that he or she has full authority to execute and deliver this Decree and to bind the Party for whom he or she signs. Each Party acknowledges that it has been represented by counsel or has had the opportunity to consult counsel prior to executing this Decree.

Sign Now