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General Release Agreement
State of Alabama
This General Release Agreement (hereinafter "Agreement") is entered into and made effective as of ________ by and between ________ (hereinafter "Releasor"), having a principal address at the following:
________
and ________ (hereinafter "Releasee"), having a principal address at the following:
________
Releasor and Releasee may be referred to individually as "Party" and collectively as the "Parties."
In consideration of the obligations and covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties do contract and agree as follows:
ARTICLE 1 - RELEASE:
ARTICLE 2 - INCIDENT DETAILS:
The Release relates to the following incident (the "Incident"), the details of which are as follows:
________
The Incident took place on or around the following date: ________.
ARTICLE 3 - CONSIDERATION:
In consideration for the Release, Releasee will pay the following amount to Releasor: $________ (________).
ARTICLE 4 - NO ADMISSION:
The Release, or the existence of this Agreement, shall not be construed as an admission of wrongdoing by Releasee in relation to Releasor or any other person or entity. The Release shall also not be construed as an admission of liability or responsibility by Releasee and the Release does not indicate that Releasor has any actionable rights against Releasee.
ARTICLE 5 - FINAL SETTLEMENT:
Releasor hereby acknowledges and agrees that the Release is intended to fulfill and fully satisfy any obligations owed by Releasee to Releasor. Releasor agrees that Releasor will not make any claim or take any action relating to the Incident against Releasee.
ARTICLE 6 - MUTUAL UNDERSTANDING:
The Parties both understand, acknowledge and agree that this Release is a final settlement for any and all claims or actions relating to the Incident and that each Party has had the opportunity to carefully review the terms of this Release and/or have it examined by an attorney if so desired. The Parties are entering into this Agreement voluntarily.
ARTICLE 7 - ENTIRE AGREEMENT:
ARTICLE 8 - GOVERNING LAW:
This Agreement shall be governed in all respects by the laws of the state of Alabama and any applicable federal law.
EXECUTION:
Releasor: ________
Signature: ____________________________
Releasee: ________
Signature: ____________________________
State of Alabama
County of: ______________________________
On this _____ day of ________________________________________, 20__, before me, personally appeared _____________________________, to me known to be the person described in and who executed the foregoing instrumentand acknowledged that he/she executed the same as his/her free act and deed.
__________________________________________________________________
Notary Signature, Printed Name, and Notary/Bar Roll Number
On this _____ day of ________________________________________, 20__, before me, personally appeared _____________________________, to me known to be the person described in and who executed the foregoing instrumentand acknowledged that he/she executed the same as his/her free act and deed.
__________________________________________________________________
Notary Signature, Printed Name, and Notary/Bar Roll Number
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