Plaintiff and Defendant is referred to individually as "Party" and collectively as the "Parties."
This Settlement Agreement (the “Agreement”) is entered into and made valid upon signature by both Parties (the “Effective Date”).
WHEREAS, Plaintiff filed legal action against Defendant on [INSERT DATE] concerning [LEGAL ACTION] (the “Lawsuit");
WHEREAS, the Lawsuit was filed in the following court: [INSERT NAME OF COURT]. ;
WHEREAS, the Lawsuit is captioned [INSERT CAPTION], Case No : [INSERT CASE NO]
WHEREAS, as more fully set forth herein, the Parties have agreed to settle their dispute, and intend to fully settle any and all known issues between them arising out of or relating to the Lawsuit;
NOW, therefore, in consideration of the promises and covenants set forth herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows:
The Parties acknowledge and agree that nothing contained in this Agreement shall be considered an admission of liability or wrongdoing by Defendant and that this Agreement is purely an act of compromise.
The Plaintiff will defend, protect, indemnify and hold the Defendant harmless from any and all claims, actions, causes of actions, liabilities, judgments, damages, or expenses of any kind or nature whatsoever (including, but not limited to, attorneys' fees and costs), that are asserted, filed, or prosecuted against Defendant arising out of or relating in any way to the warranties, representations or covenants set forth in this Agreement.
The Parties hereby expressly agree to keep the terms of this Agreement and the underlying facts relating to the Lawsuit strictly confidential and not disclose the terms and facts to anyone.
The Plaintiff acknowledges that the Settlement Amount is in compromise of the Lawsuit and that all other fees and costs, such as attorney's fees or other expenses, are the responsibility of the Party who incurred such costs.
This Agreement constitutes the entire agreement between the Parties. This Agreement supersedes and replaces all prior or contemporaneous agreements or understandings, written or oral, regarding the Lawsuit or Settlement Amount.
The Parties agree that the state of [INSERT NAME OF STATE] shall govern any matter or dispute relating to or arising out of this Agreement, with the exception of its conflict of law provisions.
If any part or sub-part of this Agreement is held invalid or unenforceable by a court of law or competent arbitrator, the remaining parts and sub-parts will be enforced to the maximum extent possible. In such condition, the remainder of this Agreement shall continue in full force.
This Agreement may not be modified except in writing, executed by all Parties.
Both Parties have either received the advice of counsel regarding this Agreement or have waived their right to do so. Both Parties fully understand the contents of this Agreement and agree to it of their own will and accord.