Stipulation and Settlement Agreement
I. Introduction
This Stipulation and Settlement Agreement (“Agreement”) is entered into by and between [PLAINTIFF'S NAME] (“Plaintiff”) and [DEFENDANT'S NAME] (“Defendant”), collectively referred to as “Parties.” This Agreement aims to resolve all disputes and claims related to the lawsuit filed in the Court of [COURT NAME], Case No. [CASE NUMBER].
II. Definitions
For purposes of this Agreement, the following terms are defined as:
"Confidential Information" refers to any data or information, oral or written, treated as confidential that relates to either Party’s business operations.
"Effective Date" means the date on which this Agreement is executed by both Parties.
"Settlement Amount" refers to the sum agreed upon by the Parties to settle the disputes outlined herein.
III. Settlement Terms
[PLAINTIFF'S NAME] and [DEFENDANT'S NAME] agree to the following terms:
The Defendant will pay the Plaintiff a Settlement Amount of [SETTLEMENT AMOUNT] dollars ($).
Payment shall be made via [SPECIFIED PAYMENT METHOD], no later than [PAYMENT DEADLINE DATE].
Upon receipt of the Settlement Amount, the Plaintiff agrees to dismiss the lawsuit with prejudice and release the Defendant from any further claims arising from the incident in question.
IV. Confidentiality
Both Parties agree to maintain the confidentiality of the terms of this Agreement, including the Settlement Amount, and not to disclose any part of it except to their lawyers, accountants, or as required by law, without prior written consent from the other Party.
V. Representations and Warranties
Each Party represents and warrants that they have the full power and authority to enter into this Agreement and that this Agreement is binding upon them, enforceable in accordance with its terms.
VI. Dispute Resolution
Should any disputes arise concerning the interpretation or enforcement of this Agreement, the Parties agree first to try to resolve the matter through mutual negotiation and, if necessary, through mediation before resorting to litigation.
VII. Miscellaneous
This Agreement constitutes the entire agreement between the Parties regarding its subject matter, superseding all prior agreements or understandings.
Any amendments to this Agreement must be written and signed by both Parties.
This Agreement shall be governed by the laws of the State of [STATE], without regard to its conflict of law principles.
VIII. Execution
This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.
[PARTY A]
[PARTY B]
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