Release Of Claims Settlement Agreement Template for Austria

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Key Requirements PROMPT example:

Release Of Claims Settlement Agreement

"I need a Release of Claims Settlement Agreement under Austrian law for settling an intellectual property dispute between our software company and a former contractor, including specific provisions for confidentiality and the return of source code, with settlement payment to be made by March 15, 2025."

Document background
The Release of Claims Settlement Agreement is a crucial legal instrument used in Austrian business and civil contexts to formally resolve disputes and provide legally binding closure to claims between parties. This document is particularly important when parties wish to definitively settle existing or potential claims, whether arising from commercial disputes, employment matters, or other legal controversies. Under Austrian law, such agreements must meet specific requirements outlined in the ABGB (Austrian Civil Code) regarding the clarity of claims being released, consideration provided, and execution formalities. The document is commonly used following negotiations between parties and may be implemented either before formal legal proceedings commence or as a means to terminate existing litigation. The Release of Claims Settlement Agreement typically includes detailed provisions about the settlement amount, payment terms, scope of claims being released, and any continuing obligations of the parties, all while ensuring compliance with Austrian legal principles regarding settlements and releases.
Suggested Sections

1. Parties: Identification and details of all parties to the agreement, including their legal capacity and authority to enter into the settlement

2. Background: Context of the dispute or claims, including relevant dates, events, and any prior agreements or litigation

3. Definitions: Key terms used throughout the agreement, including specific definition of 'Claims' being released

4. Settlement Payment: Details of any monetary consideration, payment terms, method, and timing

5. Release of Claims: Comprehensive description of claims being released, including present and future claims

6. Warranties and Representations: Statements by both parties regarding their authority, understanding, and ownership of claims

7. Confidentiality: Obligations regarding non-disclosure of settlement terms and related information

8. Tax Implications: Statement on responsibility for taxes and related obligations under Austrian tax law

9. Governing Law and Jurisdiction: Confirmation of Austrian law application and jurisdiction for disputes

10. Entire Agreement: Integration clause confirming this document represents the complete agreement

11. Execution: Signature requirements and effective date provisions

Optional Sections

1. Non-Disparagement: Mutual obligations not to make negative statements, used when reputational concerns exist

2. Return of Property: Provisions for returning documents or property, relevant when physical items are involved

3. Cooperation: Requirements for future cooperation, used when ongoing matters require party assistance

4. Insurance: Insurance-related provisions, relevant when claims involve insurance coverage

5. Revival of Claims: Conditions under which released claims might be revived, used in complex settlements

6. Non-Admission: Statement that settlement does not constitute admission of liability, used in disputed claims

7. Future Claims: Specific provisions about potential future claims, used when future rights need preservation

Suggested Schedules

1. Schedule A - Released Claims: Detailed list of specific claims being released

2. Schedule B - Settlement Payment Details: Breakdown of settlement amounts and payment schedule

3. Schedule C - Required Actions: List of specific actions parties must take to implement settlement

4. Appendix 1 - Related Proceedings: List of any legal proceedings to be discontinued

5. Appendix 2 - Form of Release: Standard form for any additional releases required

6. Appendix 3 - Supporting Documents: Copies of relevant documents referenced in the agreement

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
Clauses
Relevant Industries

Financial Services

Manufacturing

Technology

Healthcare

Construction

Real Estate

Professional Services

Retail

Energy

Transportation

Telecommunications

Insurance

Education

Hospitality

Public Sector

Consumer Goods

Relevant Teams

Legal

Human Resources

Finance

Compliance

Risk Management

Corporate Affairs

Operations

Executive Leadership

Administration

Business Development

Contract Management

Relevant Roles

Legal Counsel

General Counsel

Compliance Officer

Risk Manager

Human Resources Director

Chief Financial Officer

Claims Manager

Settlement Administrator

Corporate Secretary

Business Development Manager

Contract Manager

Chief Executive Officer

Chief Operating Officer

Department Head

Project Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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