Settlement and Release Agreement

Business Letter

SETTLEMENT and RELEASE AGREEMENT

This Settlement and Release Agreement is hereby entered into by and between the two parties:

__(Full Personal Name or Co. Entity of claimant/plaintiff)__ of __(address)__

and __(Full Personal Name or Co. Entity of defendant)__ of __(address)__.

Agreement between the two parties shall constitute the following:

  1. It is agreed that in consideration of payment to __(Personal Name/Co. Entity of claimant/plaintiff)__ of the sum __($amount)__, __(Personal Name/Co. Entity of claimant/plaintiff)__ hereby releases and discharges __(Personal Name/Co. Entity of defendant)__, from any and all future claims or causes of actions, demands, and complaints, known or unknown which __(Personal Name/Co. Entity of claimant/plaintiff)__ may have, in relation to the dispute and controversy of the incident described as: INCIDENT DESCRIPTION: __(briefly describe situation)__
  2. It is expressly acknowledged, understood and agreed that this is a full and final settlement for the release to __(Personal Name/Co. Entity of defendant)__, and principals, officers, agents, servants, employees, heirs, administrators, executors, successors or assigns and/or representatives thereof, of any and all future claims or causes of actions, liabilities, demands, and complaints, known or unknown which __(Personal Name/Co. Entity of claimant/plaintiff)__ may have related to the aforementioned incident.
  3. The undersigned parties hereto declare and represent that by execution of this agreement, they represent and warrant that they each have the full and complete authority to execute this agreement.
  4. This agreement contains the entire agreement between the parties hereto and is intended as a full and final expression of the settlement and release of claims or causes of actions, liabilities, demands, and complaints. The terms outlined in this agreement are contractual.
  5. This agreement shall not be construed in favor or against any party, but shall be construed as equal to both parties and shall remain in effect indefinitely.

The parties acknowledge that they have read and understood the contents of this agreement and sign the same of their own free will and thereby executing this Agreement effective the ____day of

________________, _____. X_______________________________ X________________________

(type Name of first party here) (type Name of second party here)

SIGNED in the presence of:

X__________________________

(Witness)