Settlement Agreement and Mutual Release (Short Form) - Alaska

SETTLEMENT AGREEMENT AND MUTUAL RELEASE (SHORT FORM)

State of Alaska

Before you use this: Identify the dispute, claims, released persons, payment milestone, and any liens or nonwaivable rights before signing.

RECITALS AND PARTIES

This Settlement Agreement and Mutual Release (Short Form) (this "Agreement") is entered into as of [__/__/____] (the "Effective Date") by and between:

PARTY A (Releasing Party / Claimant):
Name: [________________________________]
Address: [________________________________]
City, State, ZIP: [________________________________]
Representative/Counsel: [________________________________]

PARTY B (Released Party / Respondent):
Name: [________________________________]
Address: [________________________________]
City, State, ZIP: [________________________________]
Representative/Counsel: [________________________________]

Party A and Party B are collectively referred to as the "Parties."

CASE/DISPUTE REFERENCE:
Court (if applicable): [________________________________]
Case Name: [________________________________]
Case/Docket Number: [________________________________]
Nature of Dispute: [________________________________]
Date Dispute Arose: [__/__/____]

RECITALS

WHEREAS, a dispute has arisen between the Parties relating to [________________________________] (the "Dispute");

WHEREAS, the Parties desire to resolve the Dispute fully and finally, without admitting any liability, fault, wrongdoing, or the merit or lack of merit of any claim or defense;

WHEREAS, the Parties have had the opportunity to consult with counsel and understand the nature and extent of this Agreement;

WHEREAS, the Parties intend this Agreement to be a complete, final, and binding resolution of all claims existing between them through the Effective Date;

NOW, THEREFORE, in consideration of the mutual covenants, releases, and promises set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

SECTION 1: SETTLEMENT PAYMENT AND CONSIDERATION

1.1 Settlement Amount.

In full and final satisfaction of all claims described herein, [________________________________] ("Payor") shall pay to [________________________________] ("Payee") the total sum of $[________________________________] (the "Settlement Amount"), subject to the following payment terms:

☐ Lump Sum Payment: The Settlement Amount shall be paid in a single payment on or before [__/__/____], by the following method:

☐ Check payable to: [________________________________]
☐ Wire transfer using secure payment instructions delivered separately by Payee.
☐ Other: [________________________________]

☐ Installment Payments: The Settlement Amount shall be paid in installments as follows:

1.2 Taxes and Reporting.
Each Party remains responsible for its own tax obligations. The Parties shall supply any information and forms required for applicable tax reporting through a secure process outside this Agreement.

1.3 Attorney's Fees and Costs.
☐ Each Party shall bear its own attorneys' fees and costs.
☐ Party [____] shall pay Party [____]'s attorneys' fees in the amount of $[________________________________].
☐ Attorneys' fees are incorporated within the Settlement Amount.

1.4 Default on Payment.
In the event the Payor fails to make any payment when due, the Payee shall provide written notice of default. If Payor fails to cure the default within [____] days of notice, the full unpaid balance shall become immediately due and payable, and Payee may pursue all available legal remedies including enforcement of this Agreement in any court of competent jurisdiction.

SECTION 2: MUTUAL RELEASE OF CLAIMS

2.1 Release by Party A.
Upon [FINAL CLEARED PAYMENT / IDENTIFIED PERFORMANCE MILESTONE], Party A releases only claims it owns against [NAMED PARTY B RELEASEES] arising from [IDENTIFIED DISPUTE, EVENTS, AND DATE RANGE], whether known or unknown at signing, except the claims excluded in Section 2.4 (the "Claims").

2.2 Release by Party B.
Upon the same milestone, Party B releases only claims it owns against [NAMED PARTY A RELEASEES] arising from [IDENTIFIED DISPUTE, EVENTS, AND DATE RANGE], whether known or unknown at signing, except the claims excluded in Section 2.4.

2.3 Unknown Claims.
The Parties intend the releases in Sections 2.1 and 2.2 to cover unknown claims only within the persons, events, dates, and subject matter expressly identified there. Each Party understands that additional facts may later become known. No claim outside the stated scope is released by this paragraph.

2.4 Claims Not Released.
Notwithstanding the foregoing, the following claims are expressly excluded from this release:
Claims arising from performance or breach of this Agreement and claims based on events after the stated release period are excluded. Additional excluded claims, liens, and third-party rights: [LIST OR "NONE"]

2.5 Third Parties.
This Agreement releases no claim owned by a person who does not sign it. Any intended release of a non-signatory must identify that person and the legal basis for the release in Sections 2.1 or 2.2.

SECTION 3: NO ADMISSION OF LIABILITY

This Agreement is a compromise of disputed claims and is not an admission of liability, fault, wrongdoing, negligence, or violation of law by any Party. Admissibility in a particular proceeding is governed by applicable law.

SECTION 4: DISMISSAL WITH PREJUDICE

4.1 Obligation to Dismiss.
Within [____] calendar days of the later of (a) final cleared payment or the separate milestone [IDENTIFY] and (b) execution of this Agreement by all Parties, the Parties shall cooperate to accomplish the selected dismissal method:

☐ File a stipulation dismissing the entire action ☐ with prejudice ☐ without prejudice, signed by all parties who appeared, under Alaska R. Civ. P. 41(a)(1)(B) or Fed. R. Civ. P. 41(a)(1)(A)(ii), as applicable.
☐ Submit a joint request for a court dismissal order under the applicable rule: [IDENTIFY RULE, REQUESTED TERMS, AND REQUIRED APPROVAL].
☐ Other lawful dismissal mechanism: [________________________________]

If federal post-dismissal enforcement in the same action is intended, the Parties must obtain an entered dismissal order expressly retaining jurisdiction or incorporating settlement terms. A filed stipulation or request alone does not provide that authority; do not file a self-executing stipulation before the court acts on a proposed retention order.

4.2 Responsibility for Dismissal Filing.
The following Party/counsel shall be responsible for preparing and filing dismissal papers: [________________________________]

4.3 Court Approval Requirements.
Applicable court or statutory approval, if any: [IDENTIFY APPROVAL AND AUTHORITY OR "NONE"]. The Parties shall obtain any required approval before relying on dismissal or release effectiveness.

SECTION 5: CONFIDENTIALITY

☐ Confidentiality Applies. The existence, terms, and conditions of this Agreement are strictly confidential. The Parties agree not to disclose the terms of this Agreement to any third party except:
(a) to their respective attorneys, accountants, tax advisors, and financial advisors under a duty of confidentiality;
(b) to their spouses or domestic partners under a duty of confidentiality;
(c) as required by law, regulation, court order, or legal process;
(d) as necessary to enforce this Agreement;
(e) as required for income tax reporting purposes.

For a breach, the affected Party may seek relief available under this Agreement and applicable law in a forum with jurisdiction.

☐ No Confidentiality Requirement. The Parties agree that this Agreement may be disclosed freely.

SECTION 6: NON-DISPARAGEMENT

☐ Non-Disparagement Applies. Each Party agrees not to make, publish, or cause to be made or published any false, misleading, or disparaging statements, comments, reviews, or communications — oral, written, or electronic — regarding the other Party, its officers, directors, employees, products, services, or business practices. This clause does not prohibit truthful statements made pursuant to legal obligation.

☐ No Non-Disparagement Clause. The Parties do not include a non-disparagement obligation.

SECTION 7: COOPERATION AND FURTHER ACTS

Each Party agrees to execute such additional documents, instruments, and agreements, and to take such further actions, as may be reasonably necessary or appropriate to carry out the purposes and intent of this Agreement, including the filing of dismissal documents and any required court approval submissions.

SECTION 8: REPRESENTATIONS AND WARRANTIES

Each Party represents and warrants to the other as follows:

8.1 Authority. It has full legal right, power, and authority to enter into and perform this Agreement, and this Agreement constitutes a valid and binding obligation enforceable against it in accordance with its terms.

8.2 No Assignment. It has not assigned, transferred, pledged, or otherwise conveyed any Claim released herein to any third party.

8.3 Other Proceedings. Each Party discloses any other pending lawsuit, arbitration, administrative proceeding, or claim related to the Dispute: [LIST OR "NONE"].

8.4 Independent Counsel. Each Party has been advised of its right to consult with independent legal counsel prior to executing this Agreement, and has either done so or has knowingly and voluntarily waived that right.

8.5 Voluntary Execution. This Agreement is entered into freely, voluntarily, and without duress, coercion, or undue influence.

8.6 Full Understanding. Each Party has read and fully understands this Agreement and its consequences.

SECTION 9: MISCELLANEOUS PROVISIONS

9.1 Governing Law.
This Agreement shall be governed by and construed in accordance with the laws of the State of Alaska, without regard to its conflict-of-laws principles.

9.2 Dispute Resolution / Venue.
Any dispute arising out of or relating to this Agreement shall be resolved as follows:
☐ An Alaska state court at [COURT LOCATION AND JUDICIAL DISTRICT], subject to applicable venue rules.
☐ The United States District Court for the District of Alaska, only if it independently has subject-matter jurisdiction or enters a valid order retaining jurisdiction.
☐ Arbitration under the attached written arbitration clause [IDENTIFY ATTACHMENT AND RULES].

9.3 Integration / Entire Agreement.
This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior and contemporaneous negotiations, representations, warranties, agreements, and understandings, whether oral or written, relating to the Dispute. No modification or amendment of this Agreement shall be valid unless made in writing and signed by both Parties.

9.4 Severability.
If any provision is held invalid or unenforceable, the Parties intend the remaining provisions to remain effective to the extent permitted by law and request reformation only where the court has authority to grant it.

9.5 Counterparts.
This Agreement may be signed in counterparts, which together form one instrument. The Parties intend to permit signatures transmitted by [PDF / PLATFORM / OTHER], subject to applicable law, authentication, signer authority, and any court-filing requirements.

9.6 Headings.
Section headings are for convenience only and shall not affect the interpretation of this Agreement.

9.7 No Third-Party Beneficiaries.
Except for persons expressly named as releasees in Section 2, this Agreement is for the benefit of the Parties and their respective successors and permitted assigns. No other third-party rights are intended.

9.8 Waiver.
No waiver of any breach or default shall constitute a waiver of any subsequent breach or default.

SECTION 10: SIGNATURES

BY SIGNING BELOW, EACH PARTY ACKNOWLEDGES THAT IT HAS READ THIS AGREEMENT IN ITS ENTIRETY, UNDERSTANDS ITS TERMS, AND AGREES TO BE BOUND BY THEM.

PARTY A:

Signature: [________________________________]
Printed Name: [________________________________]
Title (if applicable): [________________________________]
Date: [__/__/____]

Party A's Counsel (if applicable):

Signature: [________________________________]
Printed Name: [________________________________]
Bar Number: [________________________________]
Firm: [________________________________]
Date: [__/__/____]

PARTY B:

Signature: [________________________________]
Printed Name: [________________________________]
Title (if applicable): [________________________________]
Date: [__/__/____]

Party B's Counsel (if applicable):

Signature: [________________________________]
Printed Name: [________________________________]
Bar Number: [________________________________]
Firm: [________________________________]
Date: [__/__/____]

OPTIONAL: NOTARIZATION

(Use only if required for this transaction or chosen by the Parties.)

NOTARIZATION — PARTY A:

State of [________________________________]
Location: [________________________________]

On [__/__/____], before me, [________________________________], a Notary Public, personally appeared [________________________________], known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument and acknowledged that he/she/they executed the same for the purposes therein contained.

Notary Public Signature: [________________________________]
My Commission Expires: [__/__/____]
[NOTARY SEAL]

NOTARIZATION — PARTY B:

State of [________________________________]
Location: [________________________________]

On [__/__/____], before me, [________________________________], a Notary Public, personally appeared [________________________________], known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument and acknowledged that he/she/they executed the same for the purposes therein contained.

Notary Public Signature: [________________________________]
My Commission Expires: [__/__/____]
[NOTARY SEAL]

EXHIBITS / ATTACHMENTS

☐ Exhibit A — Payment Schedule
☐ Exhibit B — Promissory Note (if installments)
☐ Exhibit C — Stipulation of Dismissal
☐ Exhibit D — Other: [________________________________]

SOURCES AND REFERENCES

• Alaska R. Civ. P. 41(a)(1)(B): https://courts.alaska.gov/rules/docs/civ.pdf
• Fed. R. Civ. P. 41(a)(1)(A)(ii): https://www.uscourts.gov/sites/default/files/document/federal-rules-of-civil-procedure.pdf
• Kokkonen v. Guardian Life Ins. Co. of America, 511 U.S. 375 (1994): https://tile.loc.gov/storage-services/service/ll/usrep/usrep511/usrep511375/usrep511375.pdf
• U.S. District Court for the District of Alaska: https://www.akd.uscourts.gov/