Free Mutual Settlement Agreement Template
Mutual Settlement Agreement
This Agreement is made and entered into as of November 20, 2095, by and between the following parties (collectively referred to as the "Parties"):
Parties
Party A: [YOUR COMPANY NAME], with a principal place of business located at [YOUR COMPANY ADDRESS].
Party B: GazeGuru, with a principal place of business located at Columbus, OH 43215.
Recitals
WHEREAS, a dispute has arisen between the Parties regarding the terms and execution of a joint development agreement for a software project; and
WHEREAS, the Parties desire to settle the dispute and all claims arising therefrom without admitting any liability and avoid the expense and uncertainty of further litigation or arbitration;
NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, the Parties hereby agree as follows:
Terms and Conditions
1. Settlement Amount
[YOUR COMPANY NAME] agrees to pay GazeGuru a total sum of $500,000 (the "Settlement Payment"). The Settlement Payment will be made in the following manner:
$250,000 will be paid within 30 days of the Effective Date of this Agreement.
$250,000 will be paid in two equal installments of $125,000 each, due on January 15, 2096 and April 15, 2096.
2. Full and Final Settlement
Upon receipt of the Settlement Payment, GazeGuru agrees that this Agreement constitutes a full and final settlement of any and all claims, demands, or rights that either Party may have against the other, arising out of the aforementioned dispute. Both Parties acknowledge that this settlement resolves all issues in relation to the project in dispute, and no further claims shall be made regarding the same.
3. Release
Each Party hereby releases and forever discharges the other Party from any and all claims, demands, and causes of action of any nature whatsoever, whether known or unknown, arising out of or relating to the dispute. This release includes, but is not limited to, any claims for breach of contract, negligence, or misrepresentation related to the dispute.
4. Confidentiality
The Parties agree to maintain the confidentiality of this Agreement and its terms, except as required by law or necessary to enforce the terms of this Agreement. Neither Party shall disclose the terms of this Agreement to any third party without the prior written consent of the other Party, except for legal or regulatory obligations or as necessary to enforce the terms of the settlement.
5. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of Ohio, without regard to its conflict of law principles.
6. Entire Agreement
This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior agreements, negotiations, and understandings, whether written or oral. Any amendments or modifications to this Agreement must be in writing and signed by both Parties.
Signatures
This Agreement is executed as of the date first written above by the duly authorized representatives of the Parties.
IN WITNESS WHEREOF, the Parties have executed this Mutual Settlement Agreement.
[Your Name]
Porter Hoppe
