Amicable settlement record template (US)

Settlement Agreement and Release

This Settlement Agreement ("Agreement") is made on Effective Date between First Party Name at First Party Address and Second Party Name at Second Party Address (the "Parties").

1. The Dispute

The Parties disagree about the following: Description of the Dispute, Dates and Any Case Number (the "Dispute"). They wish to end it without further cost and without any finding of fault.

2. Settlement Terms

In full settlement of the Dispute:

• Paying Party will pay Receiving Party $Settlement Amount by Payment Method on or before Payment Deadline.

• Other Settlement Terms or None.

3. Mutual Release

When the Section 2 terms have been met, each Party, for itself and its heirs, successors and assigns, releases the other Party, and its owners, employees and agents, from all claims arising from the Dispute, whether known or unknown at this date. This Agreement does not release duties under this Agreement itself, or any claim that the law does not allow to be released. If California law or a similar law applies to unknown claims, each Party waives it to the extent it applies: Unknown Claims Statute or Not Applicable.

4. No Admission

This Agreement is a compromise. It is not an admission of fault or liability, and may not be used as such.

5. Pending Case

If a lawsuit or claim is pending, the Party that filed it will dismiss it with prejudice within Dismissal Days days after receiving payment, and each Party will bear its own attorneys' fees and costs, unless stated here: Fee Arrangement or None.

6. Breach

If a Party does not perform on time and does not cure within Cure Days days after written notice, the other Party may enforce this Agreement in court, and the prevailing Party may recover its reasonable attorneys' fees, if the court allows.

7. Confidentiality

The box marked applies: ☐ the terms may be disclosed; ☐ the terms stay confidential, except to advisers, insurers and tax authorities, as the law requires, or to enforce this Agreement. Neither choice limits reporting a possible violation of law to a government agency, or any disclosure that the law protects.

8. Employment and Other Special Claims

This form is not suitable as it stands to settle wage claims, a claim on behalf of a minor, or a matter where the court must approve the settlement. A release of federal age discrimination claims by a worker must meet the Older Workers Benefit Protection Act, including the time to consider and to revoke it.

9. Taxes

Each Party is responsible for its own taxes on this settlement. A payer may have to report it on Form 1099 and may ask for a Form W-9 before paying.

10. Understanding

Each Party has read this Agreement, signs it voluntarily, had the chance to consult a lawyer, has not transferred any claim it is releasing, and has authority to sign.

General Terms

Governing law. This Agreement is governed by the laws of the State of Governing State, without regard to its conflict of laws rules. Any lawsuit will be brought in the state or federal courts located in Venue County and State.

Entire agreement. This Agreement is the parties' complete agreement on its subject and replaces all earlier discussions. It may be changed only in a writing signed by both parties.

Severability. If a court finds any part of this Agreement unenforceable, that part will be enforced to the extent the law allows, and the rest stays in effect.

Notices. Notices must be in writing and sent to the addresses above by personal delivery, certified mail or a nationally recognized courier.

Counterparts and e-signatures. This Agreement may be signed in counterparts and by electronic signature, which has the same effect as an original.

| First Party | Second Party |

| --- | --- |

| Signature: First Party Signature | Signature: Second Party Signature |

| Name: First Party Printed Name | Name: Second Party Printed Name |

| Date: First Party Signing Date | Date: Second Party Signing Date |