Settlement Agreement
Category: 270 Legal Recent Posts, Settlement
SETTLEMENT AGREEMENT
This Settlement Agreement (“Settlement Agreement”) is made and entered into as of the Effective Date (as defined in Section 1(a)(iv) below) by and between SOFTBANK Corp., a Japanese corporation (“SOFTBANK Parent”), on behalf of itself and all its related entities (collectively “SOFTBANK” as defined in Section 1(a)(i) below) on the one hand, and Ariba, Inc., a Delaware corporation, on behalf of itself and all its related entities (collectively “Ariba” as defined in Section 1(a)(ii) below) on the other hand.
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3. Dismissal with Prejudice. Within five (5) Business Days after each of the payments provided for in Section 2(c) have been made, the Parties shall voluntarily dismiss the Nihon Ariba Arbitration and the Ariba Korea Arbitration, with prejudice and without costs to any Party, by executing Stipulations of Voluntary Dismissal with Prejudice in the forms attached hereto as Exhibit C and Exhibit D (the “Dismissal Stipulations”), and delivering the executed Dismissal Stipulations to the respective Panels and administrators of the Nihon Ariba Arbitration and the Ariba Korea Arbitration. The first date on which the executed Dismissal Stipulations are delivered by SOFTBANK and Ariba to the respective Panels and administrators of both the Nihon Ariba Arbitration and the Ariba Korea Arbitration shall be the “Dismissal Date.”
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c) No Side Deals. Ariba represents and warrants that, during the Buyout Period, it will not make the purchase of any Minority Holder’s equity in Nihon Ariba pursuant to this Section 5 contingent upon the consummation of any transaction for the purchase or use of Ariba software or services by such Minority Holder. Nothing in this Section 5(c) shall be interpreted to prohibit Ariba or its subsidiaries from providing services or software in the ordinary course of business in competition with SOFTBANK.
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Click here for the complete Settlement Agreement