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1. Parties: Identifies all parties to the agreement, including their full legal names and addresses
2. Background: Describes the underlying dispute, any existing legal proceedings, and the parties' intention to enter into a high-low settlement arrangement
3. Definitions: Defines key terms used in the agreement, including 'High Amount', 'Low Amount', 'Settlement Sum', and other relevant terms
4. Settlement Parameters: Specifies the agreed high and low limits of the settlement and the circumstances under which each would apply
5. Settlement Mechanism: Details the process for determining the final settlement amount within the agreed range
6. Payment Terms: Specifies the timing, method, and conditions of payment once the settlement amount is determined
7. Release and Discharge: Contains mutual releases and discharge of claims upon satisfaction of the settlement terms
8. Confidentiality: Sets forth obligations regarding confidentiality of the agreement terms and negotiations
9. Governing Law and Jurisdiction: Specifies Hong Kong law as governing law and jurisdiction for dispute resolution
10. General Provisions: Contains standard boilerplate clauses including entire agreement, amendments, and severability
1. Insurance Provisions: Required when insurance companies are involved in funding the settlement
2. Tax Provisions: Include when there are significant tax implications that need to be addressed
3. Third Party Rights: Required when the agreement affects rights of parties not directly involved in the settlement
4. Interest Provisions: Include when interest calculations on the settlement amount need to be specified
5. Costs and Legal Fees: Include when addressing the allocation of legal costs and fees
6. Alternative Dispute Resolution: Include when parties want to specify mediation or arbitration for future disputes
7. Interim Payments: Required when partial payments are to be made before final settlement
1. Schedule 1 - Calculation Formula: Details the mathematical formula or methodology for calculating the final settlement amount within the high-low range
2. Schedule 2 - Payment Schedule: If applicable, provides detailed payment terms, installment amounts, and due dates
3. Schedule 3 - Related Proceedings: Lists all related legal proceedings that are affected by or relevant to the settlement
4. Schedule 4 - Supporting Documents: Lists key documents referenced in the agreement or relevant to the settlement
5. Appendix A - Form of Release: Contains the template for formal release documents to be executed
6. Appendix B - Settlement Notification Form: Template for formally notifying the final settlement amount once determined
High Amount
Low Amount
Settlement Sum
Effective Date
Claim
Underlying Dispute
Judgment
Award
Settlement Date
Payment Date
Parties
Related Proceedings
Trigger Event
Final Determination
Settlement Notification
Business Day
Confidential Information
Hong Kong
Liability
Release
Representatives
Underlying Action
Verdict
Interest Rate
Settlement Payment
Dispute
Jurisdiction
Proceedings
Qualifying Judgment
Release Date
Settlement Documents
Working Day
Force Majeure Event
Material Breach
Definitions
Settlement Terms
High-Low Parameters
Payment Obligations
Settlement Conditions
Release
Confidentiality
Representations and Warranties
Governing Law
Jurisdiction
Dispute Resolution
Force Majeure
Notices
Assignment
Entire Agreement
Severability
Waiver
Amendment
Further Assurance
Costs
Interest
Third Party Rights
Counterparts
Time of Essence
Good Faith
Insurance
Indemnification
Default
Termination
Survival
Tax
Compliance with Laws
Authority
No Admission of Liability
Insurance
Healthcare
Construction
Manufacturing
Transportation
Professional Services
Financial Services
Real Estate
Retail
Maritime
Aviation
Energy
Legal
Risk Management
Claims
Compliance
Corporate Governance
Insurance
Dispute Resolution
Contract Management
Legal Operations
Treasury
Legal Counsel
Claims Manager
Risk Manager
Settlement Officer
Litigation Attorney
Insurance Underwriter
Compliance Officer
Chief Legal Officer
Claims Adjuster
Corporate Secretary
Legal Operations Manager
Dispute Resolution Specialist
Contract Manager
Chief Risk Officer
General Counsel
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