Settlement Agreement Template

Created October 24, 2026 · Updated October 24, 2026

SETTLEMENT AGREEMENT

THIS SETTLEMENT AGREEMENT (the "Agreement") is made and entered into on this [Day] day of [Month], [Year] (the "Effective Date").

BY AND BETWEEN:

[Claimant Company Name], a company duly incorporated and existing under the laws of [Country], having its registered office at [Registered Address], represented herein by [Name of Representative], in his/her capacity as [Title], duly authorized for the purposes of this Agreement (hereinafter referred to as the "Claimant" or the "Releasing Party");

AND

[Respondent Company Name], a company duly incorporated and existing under the laws of [Country], having its registered office at [Registered Address], represented herein by [Name of Representative], in his/her capacity as [Title], duly authorized for the purposes of this Agreement (hereinafter referred to as the "Respondent" or the "Released Party").

The Claimant and the Respondent are hereinafter referred to individually as a "Party" and collectively as the "Parties."

WHEREAS, a dispute has arisen between the Parties concerning the matters more particularly described in Section 2 of this Agreement (the "Dispute");

WHEREAS, the Parties, without any admission of fault, liability, or wrongdoing by either Party, and in order to avoid the uncertainty, expense, delay, and inconvenience of litigation, have determined that it is in their respective best interests to fully and finally resolve, settle, and compromise the Dispute upon the terms and conditions set forth herein;

WHEREAS, each Party has been afforded the opportunity to obtain independent legal advice prior to entering into this Agreement and acknowledges having done so or having voluntarily waived the right thereto;

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

  1. Definitions and Interpretation

    1. In this Agreement, unless the context otherwise requires, the following terms shall bear the meanings ascribed to them below.

    2. "Affiliate" shall mean, in relation to any Party, any entity that directly or indirectly controls, is controlled by, or is under common control with such Party, where "control" shall mean the ownership of more than fifty percent (50%) of the voting securities or the power to direct or cause the direction of the management and policies of such entity, whether through the ownership of voting securities, by contract, or otherwise.

    3. "Claims" shall mean any and all claims, demands, actions, causes of action, suits, proceedings, debts, liabilities, obligations, damages, losses, costs, expenses (including legal fees and disbursements), accounts, covenants, contracts, agreements, judgments, orders, and demands whatsoever, whether known or unknown, suspected or unsuspected, foreseen or unforeseen, matured or unmatured, liquidated or unliquidated, contingent or actual, at law or in equity, arising under any statute, regulation, common law, or otherwise, in any jurisdiction worldwide.

    4. "Business Day" shall mean any day other than a Saturday, Sunday, or public holiday on which commercial banks are generally open for business in [Country].

    5. "Confidential Information" shall mean the existence, terms, and subject matter of this Agreement, the negotiations leading to its execution, the facts and circumstances giving rise to the Dispute, and any information exchanged between the Parties in connection therewith.

    6. "Settlement Sum" shall mean the aggregate amount payable by the Respondent to the Claimant in full and final settlement of the Dispute, as specified in Section 4 of this Agreement.

    7. The headings in this Agreement are inserted for convenience only and shall not affect the construction or interpretation hereof. References to Sections and clauses are references to sections and clauses of this Agreement. Words importing the singular shall include the plural and vice versa, and words importing any gender shall include every gender.

    8. Any reference to "including," "includes," or "in particular" shall be construed as being by way of illustration only and shall not limit the generality of any preceding words. References to any statute, regulation, or legal instrument shall be construed as references to such instrument as amended, re-enacted, or replaced from time to time.

  2. Background to the Dispute

    1. The Claimant has asserted certain allegations against the Respondent concerning [brief description of the subject matter of the Dispute], arising from or in connection with [description of underlying facts, contractual relationship, transaction, or event], which allegedly occurred on or about [Date] or during the period from [Start Date] to [End Date].

    2. The Claimant has contended that, as a result of the matters described above, it has sustained losses, damages, and injuries for which it has sought monetary compensation and other remedies from the Respondent in the sum of approximately [Currency] [Amount] or such other relief as it has deemed appropriate.

    3. The Respondent has denied, and continues to deny, each and every allegation made by the Claimant, and has asserted that it has no liability whatsoever to the Claimant in respect of the matters set forth above or otherwise, and has further asserted various defenses and counter-positions in response to the Claimant's allegations.

    4. The Parties have engaged in good faith negotiations, with or without the assistance of their respective legal advisors, with a view to achieving an amicable resolution of the Dispute without recourse to formal litigation, arbitration, or any other adversarial proceedings.

    5. The Parties acknowledge that each has had full and sufficient opportunity to investigate the facts, assess the merits of its respective position, and evaluate the risks and benefits associated with the continuation of the Dispute versus the settlement thereof upon the terms set out herein.

    6. The Parties have determined that the compromise and settlement embodied in this Agreement represents a reasonable and commercially sensible resolution of the Dispute and desire to record the full and final terms of such settlement in this Agreement.

  3. No Admission of Liability

    1. This Agreement is entered into by way of compromise of disputed Claims. Nothing contained in this Agreement, and no action taken by either Party pursuant hereto, shall be construed, deemed, or interpreted as an admission by the Respondent, or by any of its Affiliates, officers, directors, employees, agents, or representatives, of any liability, fault, wrongdoing, breach of duty, breach of contract, negligence, violation of law, or culpability of any nature whatsoever.

    2. The Respondent expressly denies any and all liability in respect of the matters that are the subject of the Dispute and enters into this Agreement solely for the purposes of avoiding the burden, expense, uncertainty, distraction, and inconvenience of further dispute, negotiation, litigation, or other proceedings.

    3. Neither the existence of this Agreement, nor its terms, nor the payment of the Settlement Sum, nor any statement, communication, or document exchanged in connection with the negotiation, execution, or performance of this Agreement shall be offered, received, used, or admitted into evidence in any judicial, arbitral, administrative, regulatory, or other proceeding, except insofar as may be strictly necessary to enforce the terms of this Agreement itself.

    4. The Parties expressly acknowledge and agree that this Agreement constitutes a compromise of disputed Claims and shall not be construed as an admission, acknowledgment, or concession by either Party of the validity, merit, or value of any Claim or defense asserted by the other Party.

    5. Each Party acknowledges that the other has entered into this Agreement in reliance upon the no-admission provisions contained in this Section and that such provisions constitute a material inducement to its willingness to settle the Dispute on the terms set forth herein.

    6. In the event that any portion of this Agreement is deemed inadmissible or ineffective as a bar to the use of such Agreement as evidence of liability or admission, the Parties agree that the remaining provisions of this Agreement shall continue in full force and effect and that this Section shall be interpreted to afford the maximum possible protection to the Respondent against any inference or imputation of liability.

  4. Settlement Payment

    1. In full, final, and complete settlement, satisfaction, and discharge of any and all Claims that the Claimant has, had, or may in the future have against the Respondent arising out of or in any way connected with the Dispute or the subject matter thereof, the Respondent shall pay to the Claimant the aggregate sum of [Currency] [Amount in figures] ([Amount in words]) (the "Settlement Sum").

    2. The Settlement Sum shall be paid by way of a combination of a lump sum payment and installment payments, structured as follows: (i) an initial lump sum payment in the amount of [Currency] [Lump Sum Amount] shall be paid within [Number] Business Days following the Effective Date; and (ii) the remaining balance of [Currency] [Balance Amount] shall be paid in [Number] equal consecutive monthly installments of [Currency] [Installment Amount] each, with the first such installment falling due on [Date] and each subsequent installment falling due on the corresponding day of each successive calendar month thereafter until the Settlement Sum is paid in full.

    3. The Settlement Sum represents the entire monetary consideration payable by the Respondent in connection with the Dispute, and the Claimant shall not be entitled to receive from the Respondent any further sum, payment, compensation, interest, cost, fee, disbursement, or other amount of any nature whatsoever, whether by way of damages, interest, costs, or otherwise.

    4. The acceptance of the Settlement Sum by the Claimant shall constitute full accord and satisfaction of any and all Claims by the Claimant against the Respondent in connection with the Dispute, and the Claimant shall have no further right of recourse against the Respondent in respect thereof.

    5. The Respondent reserves the right, at its sole discretion, to accelerate any installment payment or to prepay the whole or any part of the outstanding balance of the Settlement Sum at any time without penalty, premium, or additional charge of any kind.

    6. The Settlement Sum is inclusive of any and all amounts that may be or become payable to the Claimant in connection with the Dispute, including without limitation principal, interest (whether pre-judgment or post-judgment), damages, costs, legal fees, disbursements, and taxes (subject to Section 11 below).

  5. Payment Terms and Default

    1. All payments to be made by the Respondent under this Agreement shall be made by electronic bank transfer in immediately available funds to the following bank account of the Claimant, or such other account as the Claimant may from time to time notify to the Respondent in writing not less than [Number] Business Days in advance of the relevant due date: Bank Name: [Bank Name]; Account Name: [Account Name]; Account Number: [Account Number]; SWIFT/BIC: [SWIFT Code]; IBAN or Routing: [Reference]; Reference: [Payment Reference].

    2. A payment shall be deemed to have been made on the date on which the Respondent initiates the transfer of funds from its account, provided that such funds are duly received into the Claimant's designated account within a reasonable time thereafter in the ordinary course of banking operations.

    3. If any payment due hereunder falls on a day that is not a Business Day, such payment shall be made on the next succeeding Business Day without any additional interest, penalty, or charge accruing by reason of such extension.

    4. In the event that the Respondent fails to make any installment payment in accordance with the schedule set forth in Section 4, the Claimant shall provide written notice of such default to the Respondent, and the Respondent shall have a cure period of not less than [Number] Business Days from the date of receipt of such notice within which to remedy the default by making the overdue payment in full.

    5. Only in the event that the Respondent fails to remedy a payment default within the cure period specified above shall the entire outstanding balance of the Settlement Sum become immediately due and payable, and the Claimant shall thereupon be entitled to enforce this Agreement in respect of such outstanding balance in accordance with Section 17.

    6. No interest shall accrue on any amount payable under this Agreement unless and until the Respondent has failed to remedy a payment default within the applicable cure period, in which event interest shall accrue on the overdue amount at the rate of [Number] percent ([__]%) per annum from the date on which the cure period expired until the date of actual payment, calculated on the basis of a 365-day year.

    7. The Claimant acknowledges that the schedule of installment payments has been agreed as a material inducement to the Respondent's agreement to settle the Dispute, and the Claimant shall not seek to accelerate payment or demand earlier payment except strictly in accordance with the terms of this Section.

  6. Compliance and Enforcement

    1. Each Party undertakes to perform its obligations under this Agreement in good faith and to do all such acts, matters, and things, and to execute all such further documents and instruments, as may be reasonably necessary or desirable to give full effect to the terms of this Agreement.

    2. Upon receipt of the initial lump sum payment specified in Section 4, the Claimant shall, if and to the extent that any formal proceedings have been commenced in respect of the Dispute, promptly take all steps necessary to discontinue, withdraw, dismiss, or otherwise terminate such proceedings with prejudice and without further order as to costs, and shall provide the Respondent with reasonable evidence of such discontinuance.

    3. The Claimant covenants and undertakes not to commence, continue, assist, support, encourage, finance, or otherwise participate in any legal, arbitral, administrative, regulatory, or other proceedings against the Respondent or any of its Affiliates arising out of or in connection with the Dispute or the subject matter thereof, save as expressly permitted by this Agreement.

    4. In the event that either Party commits a material breach of this Agreement, the non-breaching Party shall, prior to seeking any remedy, provide written notice to the breaching Party specifying the nature of the breach and affording the breaching Party a reasonable opportunity, being not less than [Number] Business Days, within which to remedy the breach if the same is capable of remedy.

    5. The Parties agree that damages may not be an adequate remedy for a breach of certain provisions of this Agreement, including without limitation the provisions relating to confidentiality, non-disparagement, and the release of Claims, and accordingly either Party shall be entitled to seek injunctive relief, specific performance, and other equitable remedies in respect of any threatened or actual breach of such provisions, in addition to any other remedies available at law or in equity.

    6. If the Claimant commences or threatens to commence any proceeding against the Respondent in breach of this Agreement, this Agreement may be pleaded by the Respondent as a complete bar and absolute defense to any such proceeding, and the Claimant shall be liable to indemnify the Respondent against all costs, expenses, and losses (including legal fees on a full indemnity basis) incurred in resisting such proceeding.

    7. Any failure or delay by either Party in enforcing any provision of this Agreement shall not operate as a waiver of such provision or of any other provision, nor preclude the subsequent enforcement thereof.

  7. Non-Disparagement

    1. Each Party covenants and undertakes to the other that it shall not, and shall procure that its Affiliates, directors, officers, employees, agents, and representatives shall not, at any time following the Effective Date, make, publish, or communicate to any person or in any public forum any statement, remark, comment, or other communication, whether oral, written, or electronic, that disparages, denigrates, defames, criticizes, or otherwise adversely reflects upon the other Party or any of its Affiliates, or any of their respective businesses, operations, products, services, directors, officers, employees, shareholders, or reputation.

    2. The obligations set forth in this Section shall extend to any statement made directly or indirectly, whether through social media, websites, press releases, interviews, blogs, forums, or any other medium of communication, whether now known or hereafter devised.

    3. Nothing in this Section shall prohibit either Party from making any statement that is required to be made by applicable law, by any competent court, tribunal, or regulatory authority, or in response to any legally compelled process, provided that the Party required to make such statement shall, to the extent lawfully permitted, give the other Party prior written notice and a reasonable opportunity to seek protective relief.

    4. Nothing in this Section shall prohibit either Party from making truthful statements in the course of legal proceedings necessary to enforce the terms of this Agreement, nor from responding factually and proportionately to any disparaging statement made by the other Party in breach of this Section.

    5. Each Party acknowledges that the mutual non-disparagement obligations contained in this Section constitute a material inducement to the other Party's willingness to enter into this Agreement, and that any breach thereof may cause substantial and irreparable harm to the non-breaching Party for which monetary damages may be inadequate.

    6. In the event of any breach of this Section, the non-breaching Party shall, without prejudice to any other remedies available to it, be entitled to seek immediate injunctive relief restraining the breaching Party from continuing or repeating such breach.

  8. Mutual Release of Claims

    1. Subject to the full and timely performance by the Respondent of its obligations under Sections 4 and 5 of this Agreement, each Party, on behalf of itself and its Affiliates, successors, assigns, predecessors, parent companies, subsidiaries, directors, officers, employees, shareholders, agents, insurers, attorneys, and representatives (collectively, the "Releasing Persons"), hereby irrevocably, unconditionally, fully, and forever releases, acquits, waives, and discharges the other Party and its Affiliates, successors, assigns, predecessors, parent companies, subsidiaries, directors, officers, employees, shareholders, agents, insurers, attorneys, and representatives (collectively, the "Released Persons") from any and all Claims that the Releasing Persons ever had, now have, or may hereafter have against the Released Persons arising out of, relating to, or in connection with the Dispute, the facts and circumstances giving rise thereto, or any matter in any way related thereto, from the beginning of time up to and including the Effective Date.

    2. The release contained in this Section is intended to be, and shall be construed as, the broadest possible release permitted by applicable law and shall extend to all Claims whether known or unknown, suspected or unsuspected, foreseen or unforeseen, matured or unmatured, contingent or actual, and whether arising under contract, tort, statute, equity, or any other theory of law or equity.

    3. Each Party expressly acknowledges that it may hereafter discover facts in addition to or different from those which it now knows or believes to be true with respect to the subject matter of the release contained herein, but each Party nonetheless intends fully, finally, and forever to settle and release all Claims within the scope of this Section, and in furtherance of such intention, the releases given herein shall remain in effect notwithstanding the discovery or existence of any such additional or different facts.

    4. To the extent permitted by applicable law, each Party expressly waives the benefit of any statute, rule, doctrine, or principle of common law that provides that a general release does not extend to claims that the releasing party does not know or suspect to exist in its favor at the time of executing the release.

    5. The release contained in this Section shall not apply to, and shall not operate to release, any Claim arising out of or in connection with a breach of this Agreement itself or the enforcement of the rights and obligations arising hereunder.

    6. Each Party represents and warrants that it has not assigned, transferred, pledged, or otherwise disposed of any Claim released hereunder, and agrees to indemnify and hold harmless the other Party against any Claim brought by any assignee or transferee of such Claim.

    7. Each Party covenants and undertakes that it shall not, directly or indirectly, commence, prosecute, maintain, assist, support, finance, or encourage any action, suit, arbitration, or other proceeding against any Released Person in respect of any Claim released by this Section.

  9. Representations and Warranties

    1. Each Party represents and warrants to the other, as at the Effective Date, that it is a company duly incorporated, validly existing, and in good standing under the laws of its jurisdiction of incorporation, and has the full corporate power, authority, and legal capacity to enter into this Agreement and to perform its obligations hereunder.

    2. Each Party represents and warrants that the execution, delivery, and performance of this Agreement has been duly authorized by all necessary corporate action on its part, and that this Agreement constitutes a legal, valid, and binding obligation on it, enforceable against it in accordance with its terms.

    3. Each Party represents and warrants that the person signing this Agreement on its behalf is duly authorized to do so and has the legal capacity to bind the Party on whose behalf he or she signs.

    4. Each Party represents and warrants that the execution and performance of this Agreement does not and shall not conflict with, contravene, or constitute a breach of any provision of its constitutional documents, any applicable law, or any contract, agreement, judgment, order, or decree to which it is a party or by which it is bound.

    5. The Claimant represents and warrants that it is the sole, absolute, and beneficial owner of all Claims released by it under this Agreement, that it has not assigned, transferred, pledged, encumbered, or purported to assign, transfer, pledge, or encumber any such Claim to any third party, and that no third party has any interest in or right to such Claims.

    6. Each Party represents and warrants that it has had the opportunity to obtain independent legal advice in connection with this Agreement and that it enters into this Agreement voluntarily, with full knowledge of its terms and consequences, and without any duress, coercion, or undue influence.

    7. Each Party acknowledges that in entering into this Agreement it has not relied upon any representation, warranty, statement, assurance, or undertaking (whether made negligently or innocently) by or on behalf of the other Party other than those expressly set out in this Agreement.

  10. Confidentiality

    1. The Parties acknowledge and agree that the existence, terms, and subject matter of this Agreement, the negotiations leading to its execution, and all Confidential Information shall be kept strictly confidential by each Party and shall not be disclosed to any third party without the prior written consent of the other Party.

    2. Notwithstanding the foregoing, each Party shall be entitled to disclose Confidential Information: (i) to its directors, officers, employees, professional advisors (including legal, accounting, and tax advisors), insurers, auditors, and bankers, on a strict need-to-know basis and subject to equivalent obligations of confidentiality; (ii) to its Affiliates on a strict need-to-know basis and subject to equivalent obligations of confidentiality; (iii) to the extent required by applicable law, regulation, or the rules of any recognized stock exchange or regulatory authority; (iv) to the extent required by any order of a court of competent jurisdiction or other governmental or regulatory body; and (v) to the extent necessary to enforce the terms of this Agreement.

    3. Where a Party is required to disclose Confidential Information pursuant to subsections (iii) or (iv) above, such Party shall, to the extent lawfully permitted and reasonably practicable, provide the other Party with prompt prior written notice of such required disclosure so that the other Party may seek a protective order or other appropriate remedy, and shall cooperate reasonably with the other Party in any efforts to limit or prevent such disclosure.

    4. The confidentiality obligations set forth in this Section shall not apply to any information which: (i) is or becomes publicly available other than as a result of a breach of this Agreement; (ii) was lawfully in the possession of the receiving Party prior to its disclosure in connection with this Agreement; or (iii) is independently developed by the receiving Party without reference to any Confidential Information.

    5. If either Party is asked by any third party about the existence or substance of the Dispute or this Agreement, that Party may respond only to the effect that "the matter has been resolved to the mutual satisfaction of the parties" or words of substantially similar effect, and shall provide no further information.

    6. The confidentiality obligations contained in this Section shall survive the termination or expiry of this Agreement and shall continue in full force and effect indefinitely.

    7. Each Party acknowledges that a breach of this Section may cause substantial and irreparable harm to the other Party for which monetary damages may be inadequate, and accordingly the non-breaching Party shall be entitled to seek injunctive and other equitable relief in respect of any threatened or actual breach, in addition to any other remedies available at law or in equity.

  11. Taxes and Costs

    1. Each Party shall be solely responsible for and shall bear any taxes, duties, levies, imposts, or charges imposed upon it by any taxing authority in connection with the Settlement Sum or any other matter contemplated by this Agreement, and no Party shall have any liability whatsoever to the other Party in respect of any tax liability of the other Party.

    2. The Settlement Sum shall be paid by the Respondent to the Claimant in gross, without any deduction or withholding of any kind, save only to the extent that any such deduction or withholding is required by applicable law. In the event that any such deduction or withholding is required by law, the Respondent shall be entitled to make such deduction or withholding and shall remit the amount so deducted or withheld to the relevant taxing authority, and the net amount received by the Claimant shall be in full and final satisfaction of the Respondent's payment obligations hereunder.

    3. The Claimant acknowledges and agrees that it has not sought and shall not seek any tax advice from the Respondent in connection with this Agreement, and that the Respondent makes no representation or warranty whatsoever as to the tax treatment of the Settlement Sum in the hands of the Claimant.

    4. Each Party shall bear its own legal fees, costs, expenses, and disbursements incurred in connection with the Dispute, the negotiation and preparation of this Agreement, and the implementation of the settlement contemplated hereby, and no Party shall have any claim against the other in respect thereof.

    5. In the event that either Party is required to commence proceedings to enforce the terms of this Agreement, the successful Party in such proceedings shall be entitled to recover its reasonable legal fees and costs from the unsuccessful Party, on an indemnity basis.

    6. The Claimant shall indemnify and hold the Respondent harmless from and against any tax liability, interest, penalty, or other charge imposed upon the Respondent by any taxing authority as a result of the Respondent's payment of the Settlement Sum to the Claimant.

  12. Notices

    1. Any notice, demand, consent, or other communication required or permitted to be given under this Agreement shall be in writing in the English language and shall be delivered personally, sent by internationally recognized courier service, or sent by email, in each case to the address or email address of the recipient specified below (or to such other address or email address as the recipient may have notified to the sender in accordance with this Section).

    2. For the Claimant: [Claimant Name], Attention: [Contact Person], Address: [Address], Email: [Email Address].

    3. For the Respondent: [Respondent Name], Attention: [Contact Person], Address: [Address], Email: [Email Address].

    4. Any such notice or communication shall be deemed to have been duly given and received: (i) if delivered personally, at the time of delivery; (ii) if sent by courier, on the second Business Day following the date of dispatch (or the fifth Business Day in the case of international courier); and (iii) if sent by email, at the time of transmission, provided that no delivery failure or non-delivery notification is received by the sender within a reasonable time thereafter.

    5. Any notice or communication received on a day that is not a Business Day, or after 5:00 p.m. local time at the place of receipt on a Business Day, shall be deemed to have been received on the next following Business Day.

    6. Each Party shall promptly notify the other of any change in its contact details for the purposes of this Section, and until such notice is given, the contact details last notified shall be deemed to remain valid for all purposes hereunder.

  13. Entire Agreement

    1. This Agreement, together with any documents expressly referred to herein, constitutes the entire agreement and understanding between the Parties with respect to the subject matter hereof and supersedes all prior agreements, understandings, negotiations, representations, warranties, communications, and arrangements, whether oral or written, between the Parties relating to such subject matter.

    2. Each Party acknowledges and agrees that, in entering into this Agreement, it has not relied upon, and shall have no remedy in respect of, any statement, representation, warranty, assurance, or undertaking (whether made innocently or negligently) made by or on behalf of any other person which is not expressly set out in this Agreement.

    3. Nothing in this Section shall operate to limit or exclude any liability for fraud or fraudulent misrepresentation.

    4. The Parties acknowledge that this Agreement has been drafted and negotiated jointly by the Parties and their respective legal advisors, and accordingly no rule of construction requiring interpretation against the drafter shall apply to this Agreement.

    5. Each Party warrants and represents that in entering into this Agreement it is not relying upon, and has not been induced to enter into this Agreement by, any representation, warranty, promise, or assurance of any kind other than those expressly set out in this Agreement.

  14. Amendments and Waiver

    1. No amendment, modification, variation, or supplement to this Agreement shall be valid or effective unless made in writing and duly executed by authorized representatives of both Parties.

    2. No waiver of any provision of this Agreement or of any right or remedy arising hereunder shall be effective unless given in writing and signed by the Party granting such waiver.

    3. No failure or delay by either Party in exercising any right, power, or remedy under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, power, or remedy preclude any further or other exercise thereof or the exercise of any other right, power, or remedy.

    4. A waiver of any breach of or default under this Agreement shall not constitute a waiver of any subsequent breach or default, nor shall any such waiver constitute a continuing waiver unless expressly stated to be such in writing.

    5. The rights and remedies provided in this Agreement are cumulative and not exclusive of any rights or remedies provided by law.

  15. Severability

    1. If any provision or part-provision of this Agreement is or becomes invalid, illegal, or unenforceable in any respect under any applicable law or regulation in any jurisdiction, the validity, legality, and enforceability of the remaining provisions of this Agreement shall not in any way be affected or impaired thereby.

    2. If any invalid, unenforceable, or illegal provision of this Agreement would be valid, enforceable, and legal if some part of it were deleted or modified, the provision shall apply with the minimum such deletion or modification as may be necessary to make it valid, enforceable, and legal while preserving, to the greatest extent possible, the intended commercial effect of the original provision.

    3. The Parties shall, upon the occurrence of any invalidity, illegality, or unenforceability, negotiate in good faith to agree upon a replacement provision that is valid, legal, and enforceable and that achieves, to the greatest extent possible, the original intention and commercial effect of the Parties.

    4. Any invalidity, illegality, or unenforceability of a provision in one jurisdiction shall not affect the validity, legality, or enforceability of such provision in any other jurisdiction.

  16. Assignment

    1. Neither Party may assign, transfer, charge, sub-contract, declare a trust over, or deal in any other manner with any or all of its rights or obligations under this Agreement without the prior written consent of the other Party, such consent not to be unreasonably withheld or delayed in the case of a request by the Respondent to assign to an Affiliate or in connection with a bona fide corporate reorganization.

    2. Notwithstanding the foregoing, the Respondent shall be entitled, without the consent of the Claimant, to assign its rights and obligations under this Agreement to any Affiliate or to any successor entity in connection with a merger, consolidation, reorganization, or sale of all or substantially all of its assets, provided that such successor entity assumes in writing all of the Respondent's obligations hereunder.

    3. Any purported assignment, transfer, or dealing in contravention of this Section shall be null and void and of no force or effect.

    4. This Agreement shall be binding upon and shall inure to the benefit of the Parties and their respective successors and permitted assigns.

    5. Nothing in this Agreement shall confer any right, benefit, or remedy upon any person who is not a party to this Agreement, save that the Released Persons referenced in Section 8 shall be entitled to enforce the releases given in their favor hereunder.

  17. Governing Law and Dispute Resolution

    1. This Agreement and any dispute, controversy, claim, or difference arising out of or in connection with it (including any non-contractual dispute or claim) shall be governed by, construed, and interpreted in accordance with the laws of [Country], without regard to any conflict of laws principles that would require the application of the laws of any other jurisdiction.

    2. The Parties irrevocably agree that the courts of [Country] shall have exclusive jurisdiction to settle any dispute, controversy, claim, or difference arising out of or in connection with this Agreement, including any question regarding its existence, validity, interpretation, performance, breach, or termination.

    3. Each Party irrevocably waives any objection which it may now or hereafter have to the laying of the venue of any such proceedings in the courts referred to above, and any claim that any such proceedings have been brought in an inconvenient forum.

    4. Each Party irrevocably submits to the exclusive jurisdiction of the courts referred to above and agrees that any judgment rendered by such courts shall be conclusive and binding upon it and may be enforced in any court of competent jurisdiction.

    5. Nothing in this Section shall preclude either Party from seeking urgent injunctive, interim, or conservatory relief from any court of competent jurisdiction in any jurisdiction where such relief may be necessary to protect its rights or interests pending resolution of the underlying dispute by the courts referred to above.

    6. Prior to commencing any proceedings in respect of a dispute arising out of this Agreement, the Parties shall first attempt in good faith to resolve such dispute through senior-level negotiations for a period of not less than [Number] Business Days from the date on which written notice of the dispute is given by one Party to the other, provided that this requirement shall not apply where urgent injunctive or conservatory relief is sought.

  18. Counterparts

    1. This Agreement may be executed in any number of counterparts, each of which when executed shall constitute a duplicate original, but all the counterparts shall together constitute one and the same agreement.

    2. Transmission of an executed counterpart of this Agreement by email in PDF format or by any other electronic means shall take effect as delivery of an executed counterpart of this Agreement, and the Parties shall promptly thereafter exchange original signed counterparts if so requested by either Party.

    3. Each Party agrees that the use of electronic signatures or digital signatures affixed to this Agreement shall have the same legal effect, validity, and enforceability as a manuscript signature in ink.

    4. No counterpart shall be effective until each Party has executed and delivered at least one counterpart hereof.

    5. This Agreement shall not be effective until the last of the Parties has signed a counterpart hereof.

IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed by their duly authorized representatives as of the Effective Date first above written.

SIGNED for and on behalf of [Claimant Company Name]:

Signature: ______________________________

Name: [Name of Authorized Representative]

Title: [Title]

Date: [Date]

Place: [Place of Signature]

Witness Signature: ______________________________

Witness Name: [Name of Witness]

SIGNED for and on behalf of [Respondent Company Name]:

Signature: ______________________________

Name: [Name of Authorized Representative]

Title: [Title]

Date: [Date]

Place: [Place of Signature]

Witness Signature: ______________________________

Witness Name: [Name of Witness]