Amicable Settlement
Amicable Settlement
I. Parties Involved
This Settlement Agreement ("Agreement") is entered into by and between [YOUR COMPANY NAME], with a principal place of business at [YOUR COMPANY ADDRESS] ("Company"), and [OTHER PARTY'S NAME], with an address at [OTHER PARTY'S ADDRESS] ("Other Party").
II. Recitals
WHEREAS, disputes have arisen between the Company and the Other Party regarding [BRIEF DESCRIPTION OF DISPUTE]; and
WHEREAS, the Parties wish to resolve these disputes without litigation and have agreed to the terms in this Agreement.
III. Terms of Settlement
A. Payment Terms
The following payment terms are agreed upon:
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The Company shall pay the Other Party the total sum of [SETTLEMENT AMOUNT] dollars ($).
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Payment shall be made in [NUMBER] installment(s) due by [DUE DATE(s)].
B. Confidentiality
Both parties agree to keep the terms of this settlement confidential except as required by law or with prior written consent from both parties.
C. Release of Claims
Upon fulfillment of the payment terms outlined above, the Other Party agrees to release the Company from all claims, past or future, arising out of the disputes mentioned herein.
IV. General Provisions
A. Entire Agreement
This document contains the complete and final agreement between [YOUR COMPANY NAME] and [OTHER PARTY'S NAME] regarding the matter of dispute and supersedes all previous negotiations or agreements on this subject.
B. Amendment
This Agreement may only be amended or modified by a written document executed by both parties.
C. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of [STATE], without giving effect to any principles of conflicts of law.
V. Signatures
This Agreement is signed by the authorized representatives of the Parties as set forth below:
[YOUR COMPANY NAME]
[YOUR TITLE]
[DATE]
[OTHER PARTY'S NAME]
[OTHER PARTY'S TITLE]
[DATE]
