Spousal Liability Waiver

SPOUSAL LIABILITY WAIVER

This Spousal Liability Waiver (the Agreement) is made and entered into on this day: , , by and between Spouse Releasor: of (Releasing Spouse), and Spouse Released: of (Released Spouse). The Releasing Spouse and Released Spouse are sometimes referred to herein individually as a Party and collectively as the Parties.

RECITALS

WHEREAS, the Parties are legally married and reside together or maintain a domestic partnership as of the Effective Date set forth above; and

WHEREAS, certain financial obligations, liabilities, debts, encumbrances or claims identified herein or arising from accounts, contracts, or actions taken by either Party during the marriage may create potential liability for one Party by virtue of the marital relationship; and

WHEREAS, the Releasing Spouse desires to waive and release certain spousal claims and obligations against the Released Spouse under the terms and conditions set forth in this Agreement, and the Released Spouse consents to such waiver in exchange for the consideration described below.

NOW, THEREFORE

In consideration of the mutual covenants and other good and valuable consideration, the sufficiency of which is acknowledged by the Parties, the Parties agree as follows:

1. DEFINITIONS

For purposes of this Agreement, the following terms shall have the meanings set forth below: "Released Liabilities" means the obligations, debts, claims, causes of action, demands, suits, and liabilities described in Section 2; "Effective Date" means the date set forth in the opening paragraph of this Agreement.

2. DESCRIPTION OF RELEASED LIABILITIES

The Releasing Spouse hereby irrevocably waives, releases and relinquishes any present or future claim, demand, cause of action, obligation or liability against the Released Spouse arising from or relating to the following:

3. RELEASE AND WAIVER

Subject to the terms and conditions of this Agreement, the Releasing Spouse unconditionally and irrevocably releases and forever discharges the Released Spouse from any and all liability, whether known or unknown, suspected or unsuspected, arising out of the Released Liabilities through the Effective Date. This release expressly includes any derivative claims asserted by or through the Releasing Spouse.

4. SCOPE OF WAIVER

The Parties acknowledge that this waiver is intended to be broad and inclusive and shall extend to all claims of every nature and description, whether in contract, tort, equity or otherwise, known or unknown, up to the Effective Date, except for liabilities arising from fraud, intentional torts, or obligations expressly reserved in this Agreement.

5. CONSIDERATION

The Parties acknowledge that the consideration recited above constitutes sufficient and adequate consideration for the releases granted herein.

6. REPRESENTATIONS AND WARRANTIES

Each Party represents and warrants that it has the authority to enter into this Agreement; that the signatures below are genuine; that this Agreement has been duly authorized by all necessary action; and that no other consents or approvals are required from third parties to make this Agreement enforceable.

7. INDEMNIFICATION

The Releasing Spouse agrees to indemnify, defend and hold harmless the Released Spouse from and against any and all claims, losses, liabilities, costs and expenses (including reasonable attorneys' fees) arising from any third-party claim based on obligations that were within the scope of the Released Liabilities and attributable to the Releasing Spouse after the Effective Date.

8. NO ADMISSION OF LIABILITY

This Agreement is not, and may not be construed as, an admission of liability or fault by either Party for any purpose. The Parties expressly deny any admission of liability by entering into this Agreement.

9. NOTICES

All notices, requests, consents and other communications required or permitted under this Agreement must be in writing and will be deemed given when delivered personally, sent by certified mail, return receipt requested, or delivered by nationally recognized overnight courier to the addresses set forth below or such other address as a Party may designate by notice in accordance with this Section.

10. AMENDMENT; WAIVER

This Agreement may not be amended except by a written instrument executed by both Parties. No waiver of any provision or breach of this Agreement shall be effective unless in writing signed by the Party against whom enforcement is sought.

11. COUNTERPARTS

This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one agreement. Electronic signatures, including facsimile or scanned signatures, shall be binding for all purposes.

12. GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the state chosen by the Parties. The Parties agree that the courts of the chosen state shall have exclusive jurisdiction over any dispute arising out of or relating to this Agreement.

13. ENTIRE AGREEMENT

This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, representations and understandings of the Parties, whether written or oral.

14. SEVERABILITY

If any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

15. REPRESENTATIVE CAPACITY

Each person signing this Agreement represents and warrants that he or she has the authority to enter into this Agreement on behalf of himself or herself and, if applicable, on behalf of any entity they represent.

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