SETTLEMENT AGREEMENT AND UNILATERAL RELEASE (GEORGIA)
1. PARTIES AND BACKGROUND
This Settlement Agreement and Unilateral Release (the "Agreement") is entered into as of [EFFECTIVE DATE] by and between [RELEASOR LEGAL NAME] ("Releasor") and [RELEASEE LEGAL NAME] ("Releasee").
Background. The Parties are involved in a dispute arising from [describe dispute]. Releasor agrees to release Releasee from certain claims in exchange for the consideration set forth herein.
2. SETTLEMENT PAYMENT AND TIMING
- Settlement Amount: [$AMOUNT] to be paid by Releasee to Releasor.
- Due Date: Payment due within [X] business days of the Effective Date.
- Late Payment Interest: Interest at [X]% per annum or the maximum rate permitted by Georgia law (7% per annum under O.C.G.A. Section 7-4-2), whichever is less.
3. RELEASE OF CLAIMS BY RELEASOR
3.1 Release. Releasor hereby releases Releasee from any and all claims, whether known or unknown, arising out of or relating to [describe dispute/time period].
3.2 Carve-Outs. The release does not extend to obligations of Releasee arising under this Agreement.
4. WAIVER OF UNKNOWN CLAIMS
4.1 Express Waiver. RELEASOR EXPRESSLY WAIVES AND RELINQUISHES, TO THE FULLEST EXTENT PERMITTED BY GEORGIA LAW, ANY AND ALL RIGHTS AND BENEFITS THAT IT MAY HAVE UNDER ANY LAW OR COMMON LAW PRINCIPLE THAT WOULD OTHERWISE LIMIT THE RELEASE TO CLAIMS KNOWN OR SUSPECTED TO EXIST AT THE TIME OF EXECUTING THIS AGREEMENT.
Releasor specifically waives any rights under any statute or common law principle (including any principles similar to California Civil Code Section 1542) that provides:
"A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE."
4.2 Initials. Releasor Initials: _______
5. NO RELEASE BY NON-RELEASING PARTY
Releasee does not release any claims against Releasor by entering into this Agreement.
6. NO ADMISSION OF LIABILITY
This Agreement is a compromise of disputed claims.
7. DISMISSAL OF ACTIONS
Within [X] days of receipt of the Settlement Amount, Releasor shall file a [Request for Dismissal with prejudice].
8. CONFIDENTIALITY AND NON-DISPARAGEMENT
The terms of this Agreement shall be kept confidential.
9. TAXES AND ALLOCATION
Releasor is responsible for all tax obligations arising from the Settlement Amount.
10. REPRESENTATIONS AND AUTHORITY
Releasor represents that it has full power and authority to execute this Agreement.
11. REMEDIES
The prevailing Party in any action to enforce this Agreement shall recover its reasonable attorneys' fees pursuant to O.C.G.A. Section 13-6-11.
12. GOVERNING LAW AND DISPUTE RESOLUTION
12.1 Governing Law. This Agreement shall be governed by the laws of the State of Georgia.
12.2 Venue. Any dispute shall be resolved in the state or federal courts located in [Fulton County / DeKalb County / Gwinnett County], Georgia.
12.3 Jury Waiver. TO THE FULLEST EXTENT PERMITTED BY GEORGIA LAW, EACH PARTY HEREBY WAIVES ANY RIGHT TO A TRIAL BY JURY.
Releasor Initials: _______ Releasee Initials: _______
13. MISCELLANEOUS
Electronic signatures are valid pursuant to the Georgia Uniform Electronic Transactions Act (O.C.G.A. Section 10-12-1 et seq.).
14. SIGNATURES
text
RELEASOR: RELEASEE:
__________________________ __________________________
Signature Signature
__________________________ __________________________
Printed Name Printed Name
__________________________ __________________________
Date Date
WAIVER OF UNKNOWN CLAIMS INITIALS:
Releasor: _______
JURY WAIVER INITIALS:
Releasor: _______ Releasee: _______