Settlement Agreement and Mutual Release (Short Form)

SETTLEMENT AGREEMENT AND MUTUAL RELEASE (SHORT FORM)

State of Alaska

IMPORTANT NOTICE: This document resolves legal claims. Before signing, consult with a qualified attorney. Alaska does not have a statutory equivalent to California Civil Code § 1542; however, Alaska courts enforce broad waivers of unknown claims when the waiver is clear, explicit, and the product of a knowing and voluntary agreement. This Agreement includes such a waiver.

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 to account: [________________________________] (routing: [____________________])
☐ Other: [________________________________]

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

1.2 Payee's Tax Identification.
Payee's Social Security Number / EIN: [________________________________]
(Note: Payments of $600 or more in a calendar year may require IRS Form 1099 reporting. Each Party is responsible for its own tax obligations. This Agreement does not constitute tax advice.)

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.
Party A, on behalf of itself and its heirs, executors, administrators, successors, assigns, agents, officers, directors, employees, and representatives (collectively, "Party A Releasors"), hereby fully, finally, and forever releases, acquits, and discharges Party B and its heirs, executors, administrators, successors, assigns, agents, officers, directors, employees, insurers, and representatives (collectively, "Party B Releasees") from any and all claims, demands, actions, causes of action, suits, debts, obligations, liabilities, damages, losses, costs, expenses, and attorneys' fees of any kind or nature whatsoever, whether known or unknown, whether in law or equity, whether in contract, tort, statute, or otherwise, which Party A Releasors ever had, now have, or hereafter may have against Party B Releasees, arising out of, related to, or connected with the Dispute, through the Effective Date of this Agreement (collectively, "Claims").

2.2 Release by Party B.
Party B, on behalf of itself and its heirs, executors, administrators, successors, assigns, agents, officers, directors, employees, and representatives (collectively, "Party B Releasors"), hereby fully, finally, and forever releases, acquits, and discharges Party A and its heirs, executors, administrators, successors, assigns, agents, officers, directors, employees, insurers, and representatives (collectively, "Party A Releasees") from any and all Claims arising out of, related to, or connected with the Dispute, through the Effective Date of this Agreement.

2.3 Waiver of Unknown Claims (Alaska).
THE PARTIES EXPRESSLY ACKNOWLEDGE that this Agreement covers claims that are presently unknown, unsuspected, or not fully appreciated. Alaska does not have a statutory provision equivalent to California Civil Code § 1542; however, the Parties nonetheless expressly waive and relinquish all claims — whether known or unknown at the time of signing — arising out of or relating to the Dispute. The Parties acknowledge that they may hereafter discover facts in addition to, or different from, those they currently know or believe to be true with respect to the Claims herein released, and that the Parties intend to and do hereby fully, finally, and forever settle and release all such Claims, notwithstanding any subsequently discovered or undiscovered facts.

2.4 Claims Not Released.
Notwithstanding the foregoing, the following claims are expressly excluded from this release:
☐ Claims arising from the performance or breach of this Agreement.
☐ Claims arising after the Effective Date.
☐ Other excluded claims: [________________________________]

2.5 Alaska Comparative Fault Notice.
The Parties are aware that Alaska Statutes § 09.17.900 and related provisions govern comparative fault and apportionment. Nothing in this Agreement affects any claim against any third party not a signatory to this Agreement, except as provided herein.

SECTION 3: NO ADMISSION OF LIABILITY

This Agreement is a compromise of disputed claims and shall not be construed as an admission of liability, fault, wrongdoing, negligence, or any violation of law by any Party. Neither this Agreement nor any payment made hereunder shall be admissible as evidence of liability or fault in any judicial, administrative, or other proceeding.

SECTION 4: DISMISSAL WITH PREJUDICE

4.1 Obligation to Dismiss.
Within [____] calendar days of the later of (a) receipt of the Settlement Amount (or first installment, if applicable) and (b) execution of this Agreement by all Parties, the Parties shall cooperate to accomplish the following:

☐ File a Stipulation of Dismissal with Prejudice of all claims and counterclaims in the above-referenced action.
☐ File a Notice of Withdrawal of all pending claims.
☐ Other dismissal mechanism: [________________________________]

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

4.3 Court Approval Requirements.
☐ Not applicable — no court approval required.
☐ Court approval is required because: ☐ Minor party ☐ Incompetent party ☐ Class action ☐ Government entity ☐ Other: [________________________________]

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.

Any unauthorized disclosure shall entitle the non-disclosing Party to seek injunctive relief and/or actual damages.

☐ 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 No Other Actions. There are no other pending lawsuits, arbitrations, administrative proceedings, or claims related to the Dispute other than as disclosed herein.

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:
☐ Exclusive jurisdiction in the Alaska Superior Court for [________________________________] Judicial District.
☐ Exclusive jurisdiction in the United States District Court for the District of Alaska.
☐ Binding arbitration under the rules of: [________________________________]

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 of this Agreement is held to be invalid, illegal, or unenforceable, the remaining provisions shall continue in full force and effect, and the invalid provision shall be modified to the minimum extent necessary to make it enforceable.

9.5 Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, and all of which together shall constitute one and the same instrument. Electronic signatures, including PDF and DocuSign signatures, shall be deemed valid and binding.

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

9.7 No Third-Party Beneficiaries.
This Agreement is for the sole benefit of the Parties and their respective successors, heirs, executors, and permitted assigns. Nothing herein shall create any rights in any third party.

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

SECTION 10: ALASKA-SPECIFIC DISCLOSURES

10.1 Workers' Compensation. If any released claim involves a workplace injury, consult with a workers' compensation attorney regarding the effect of this release on Alaska workers' compensation rights under AS Title 23.

10.2 Consumer Protection. If any released claim involves consumer protection matters, consult regarding Alaska's Unfair Trade Practices and Consumer Protection Act (AS § 45.50.471 et seq.).

10.3 Court Approval for Minors. If any Party is a minor or incompetent person, this Agreement requires approval of the Alaska Superior Court before it is effective. Alaska Rules of Civil Procedure 17(c).

10.4 Government Entity Settlements. If any Party is a state or municipal entity, review applicable Alaska statutes regarding authority to settle and required approvals.

SECTION 11: 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

(Required if recording or if otherwise required by applicable law or contract)

NOTARIZATION — PARTY A:

State of [________________________________]
County/Borough of [________________________________]

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 [________________________________]
County/Borough of [________________________________]

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 Statutes Title 9 (Code of Civil Procedure): https://www.akleg.gov/
• Alaska Rules of Civil Procedure: https://courts.alaska.gov/rules/docs/civ.pdf
• Alaska Statutes § 09.17.900 (Comparative Fault): https://law.justia.com/codes/alaska/
• IRS Form 1099-MISC reporting guidance: https://www.irs.gov/forms-pubs/about-form-1099-misc