Fill and Sign the Settlement Agreement Form

1 RELEASE AND SETTLEMENT AGREEMENT THIS RELEASE AND SETTLEMENT AGREEMENT (the"Agreement") is executed effective as of _____________ , 20__, by and between, _____________, and _____________, a resident of the State of _____________, referred to as the "Claimant." WHEREAS, certain disputes have arisen between the Claimant and the _____________, including the following: ___________________; and WHEREAS, the parties hereto have finally agreed to fully settle all such cla ims against the _____________ and other matters upon the terms stated herein. NOW THEREFORE, for value received, and other good and valuable consideration, the rece ipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows: 1. Terms of Settlement. Subject to the conditions hereinafter set forth, and in exchange for the payment of ___________________________ (the "Settlement Payment") to be paid as hereinafter provided, the _____________ and the Claimant agree as follows: a. Releases. (i) Release of_______________. Simultaneously with the receipt of the Settleme nt Payment, the Claimant agrees to execute and deliver the release attached as Exhibit A hereto and made a part hereof: (A) Forever releasing and discharging the _____________, their respective officers, directors, stockholders, agents, employees, subsidiaries, affiliates, successors, heirs, personal representatives, and assigns (collectively, the "Released Persons") from any and all cl aims, actions, causes of actions, and demands of the Claimant, whether known or unknown, accrued or unaccrued, rising out of or in any way relating to the _____________, and any and all other claims presently existing or that may arise in the future, arising out of or in any way related to the Claimant's employment, including, without limitation, all damages, obligations, li abilities, costs and expenses incurred or otherwise suffered by the Claimant in connection therewith; specifi cally excluding, however, any claims for breach of representation, warranty, obligation or covenant by the _____________ contained in this Settlement Agreement; and b. Compromise of Claims. The parties acknowledge that this is a compromise sett lement of the claims against the _____________, and that this Settlement Agreement is being entered into to avoid the potential expense and inconvenience of litigation. The _____________ in no way admits any li ability with respect to the foregoing and in fact, expressly denies any liability with respect t hereto. In no event shall anything contained herein be construed as an admission of liability on the part of any of the parties hereto. c. Full and Complete Settlement. The Claimant acknowledges that the conside ration described herein is paid and received in full and complete settlement and satisfaction of all of the aforesaid claims, actions, causes of action, demands, damages, costs and expenses which they may have against the Released Persons. This Settlement Agreement is entered into freely and voluntarily by the partie s with the approval and advice of counsel. 2. Representations and Warranties. The _____________, jointly and severally, represent and warrant to the Claimant as follows: a. The execution, delivery and performance of this Settlement Agreement by _____________ and _____________ has been duly authorized by all necessary action. 2 b. The Settlement Agreement has been duly executed and delivered by the _____________ and constitutes the legal, valid and binding obligation of the _____________ enforceable against them in accordance with the terms hereof. 3. Confidentiality of Agreement. Except as otherwise required by law or agreed to in this Agre ement, each party covenants and agrees not to disclose to third parties the terms of this Settlement Agreement. 4. Miscellaneous a. Binding Effect and Benefit. This Settlement Agreement shall inure to the be nefit of the parties hereto and the other Released Persons, and shall be binding upon, the parties hereto, and thei r respective heirs, executors, administrators, personal representatives, successors and assigns. b. Modification. No provision contained herein may be modified, amended or waived except by written agreement or consent signed by the party to be bound thereby. c. Headings and Captions. Subject headings and captions are included for convenience purposes only and shall not affect the interpretation of this Settlement Agreement.d. Gender and Number. Throughout this Settlement Agreement, the masculine shall include t he feminine and neuter and the singular shall include the plural and vice versa as the context requires. e. Entire Agreement. This document together with all exhibits and schedules referred to herein constitutes the entire agreement of the parties and supersedes any and all other prior agreements, oral or written, with respect to the subject matter contained herein. f. Governing Law. This Settlement Agreement shall be subject to and governed by the la ws of the State of ___________. g. Counterparts. This Settlement Agreement may be executed in two or more counterpart s each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. h. Expenses. Each party shall pay its own respective legal and other professional fees and other expenses incurred in connection with the matters addressed herein. IN WITNESS WHEREOF, the undersigned has executed this Settlement Agreement effective as of the day and year aforesaid. ________________________ By: Its: ________________________ By: Its: 3 EXHIBIT "A"RELEASE KNOW ALL MEN BY THESE PRESENTS: That I, _____________, for and in consideration of the payment to me of _____________________ Dollars ($_______.00), the receipt and sufficiency of which is hereby acknowledged, do hereby release and fore ver discharge _____________, their agents, servants, employees, successors and assigns, and their respective heirs, personal representatives, affiliates, successors and assigns, and any and all persons, firms or corporati ons liable or who might be claimed to be liable, whether or not herein named, none of whom admit any liability to the undersigned, but all expressly denying liability, from any and all actions, causes of action, claims and demands which I now have or may hereafter have, arising out of or in any way relating to any and all injuries and damages of any and every kind, to both person and property, and also any and all injuries and damages tha t may develop in the future, as a result of or in any way relating to the following: __________________________. It is understood and agreed that this payment is made and received in full and compl ete settlement and satisfaction of the aforesaid actions, causes of action, claims and demands; that this Release contains the entire agreement between the parties; and that the terms of this Agreement and contrac tual and not merely a recital. Furthermore, this Release shall be binding upon the undersigned, and his respective heirs, execut ors, administrators, personal representatives, successors and assigns. This Release shall be subject to a nd governed by the laws of the State of _____________. This Release has been read and fully understood by the undersigned and has been explained to me. EXECUTED this day of _____________, 20___.