270 Legal [Sample Agreements]

SETTLEMENT AGREEMENT AND RELEASE OF CLAIMS

This Settlement Agreement and Release of Claims (“Agreement”) is made and entered into this 15th day of January, 2007, by and between Plaintiff B-50.com, LLC (“B-50”), and Defendant XFormity, Inc., a Texas Corporation (“XFormity”). B-50 and XFormity are sometimes collectively referred to in this Agreement as “the Parties.” B-50 and XFormity are currently parties to a Lawsuit pending in federal district court for the Northern District of Texas, Dallas Division, Civil Action No. 304CV-542-B (“the Lawsuit”).

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3. DISMISSAL WITH PREJUDICE.

Concurrently with the execution of this Agreement, the parties agree to execute, deliver and file the Stipulation for Dismissal with Prejudice and take all action necessary to dismiss with prejudice all claims, demands and causes of action asserted or which could have been asserted in the Lawsuit. The Parties agree to cooperate with each other in the execution and filing of any and all papers necessary to cause said dismissal with prejudice, including but not limited to, the Stipulation of Dismissal with Prejudice that is attached hereto and that is incorporated herein by this reference. Each party shall be responsible for obtaining the necessary signatures from its attorneys on the Stipulation for Dismissal with Prejudice.
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