The Mutual Release And Hold Harmless Agreement is commonly used when parties wish to resolve disputes or terminate relationships while protecting themselves from future claims. This document is particularly valuable in business dissolutions, settlement of disputes, or conclusion of contractual relationships. Under U.S. law, it serves two primary functions: first, it releases each party from existing or potential claims, and second, it provides mutual indemnification against future claims or damages. The agreement must be carefully drafted to comply with state-specific requirements and federal regulations, particularly regarding the scope of releases and enforceability of hold harmless provisions.
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1. Parties: Identifies all parties to the agreement with their full legal names and addresses
2. Background/Recitals: Explains the context and circumstances leading to the agreement
3. Definitions: Defines key terms used throughout the agreement
4. Mutual Release: Core section detailing the mutual releases between parties
5. Hold Harmless Provisions: Specifies the mutual indemnification obligations
6. Consideration: States the consideration given for the release
7. Governing Law: Specifies the jurisdiction and applicable law
8. Execution: Signature blocks and execution requirements
1. Confidentiality: Terms regarding confidentiality of the agreement and any sensitive information exchanged
2. Non-Disparagement: Mutual agreements not to speak negatively about each other, typically used in employment or business dissolution contexts
3. Survival: Specifies which provisions survive termination of the agreement
4. Return of Property: Requirements for returning any property or documents between parties
5. Tax Implications: Addresses tax responsibilities and implications of any monetary consideration
1. Schedule of Released Claims: Detailed list of specific claims being released by all parties
2. Schedule of Excluded Claims: List of claims specifically excluded from the release
3. Payment Schedule: Details of any payments to be made as part of the agreement
4. Property Schedule: List of any property to be returned or transferred between parties
Relevant legal definitions
Clauses
Mutual Release
Hold Harmless
Indemnification
Consideration
Confidentiality
Non-Disparagement
Governing Law
Jurisdiction
Severability
Entire Agreement
Amendment
Waiver
No Admission of Liability
Voluntary Execution
Representations and Warranties
Assignment
Notices
Counterparts
Further Assurances
Binding Effect
Time of Essence
Attorney Fees
Force Majeure
Survival
Hold Harmless
Indemnification
Consideration
Confidentiality
Non-Disparagement
Governing Law
Jurisdiction
Severability
Entire Agreement
Amendment
Waiver
No Admission of Liability
Voluntary Execution
Representations and Warranties
Assignment
Notices
Counterparts
Further Assurances
Binding Effect
Time of Essence
Attorney Fees
Force Majeure
Survival
Relevant Industries
Relevant Teams
Relevant Roles
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