Nonprofit Organization Settlement Agreement
I. Preamble
This Settlement Agreement ("Agreement") is entered into as of [Date] by and between [Nonprofit Organization Name], hereafter referred to as "The Nonprofit", with a principal place of business at [YOUR COMPANY ADDRESS], and [Other Party Name], hereafter referred to as "The Party", located at [Address of the Other Party].
II. Recitals
WHEREAS, the parties wish to settle certain matters and potential disputes related to [Brief Description of the Relationship or Issue];
WHEREAS, both parties agree that this Agreement serves to settle all disputes, claims, and communications up to the effective date of this Agreement.
III. Terms of Settlement
A. Settlement Amount:
The Nonprofit agrees to pay the sum of [YOUR SETTLEMENT AMOUNT] to The Party as a full and final settlement of all claims arising from [Specific Matter].
The payment will be made via [check, bank transfer, etc.] within [NUMBER OF DAYS] days after both parties sign this Agreement.
B. Confidentiality:
Both parties agree to maintain the confidentiality of the terms of this Agreement and circumstances leading to it, except as required by law or with the prior written consent of the other party.
C. Release of Claims:
Upon fulfillment of the settlement payment, The Party agrees to release and forever discharge The Nonprofit from any and all actions, claims, rights, demands, and obligations related to the described matters.
IV. General Provisions
A. Entire Agreement:
This Agreement constitutes the full understanding of the parties and supersedes all prior discussions and agreements, whether oral or written, regarding the subject matter hereof.
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 [YOUR STATE], without giving effect to any principles of conflicts of law.
D. Severability:
If any provision of this Agreement is found to be invalid or unenforceable, the remaining provisions will continue to be valid and enforceable.
V. Signatures
IN WITNESS WHEREOF, the parties have executed this Settlement Agreement on the dates written below.
[Nonprofit Organization Name]
Name: [YOUR NAME]
Title: [YOUR JOB TITLE]
[Date]
[Other Party Name]
[Date]
Settlement Templates @ Template.net
