Settlement Agreement and Release

by Rick L. Shackelford, Greenberg Traurig LLP, with Practical Law Litigation

A Standard Document that provides a model short-form agreement for parties looking to settle a pending lawsuit and mutually release one another from future claims. This Standard Document outlines essential terms, including the settlement payment, tax responsibilities, and a broad mutual release covering all known and unknown claims related to the dispute. It also includes optional clauses that can be tailored to the specific circumstances of the matter, addressing issues such as the dismissal of litigation with prejudice, confidentiality of the agreement's terms, and non-disparagement obligations. Key boilerplate provisions are also addressed, such as a no admission of liability clause, choice of law, and choice of forum, providing a solid framework for finalizing a legal dispute and preventing future litigation between the parties.