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Retraction & Release Agreement
THIS AGREEMENT made on [Date] by and between [Name] of [Address], hereinafter referred to as "Claimant",and [Name] of [Address], hereinafter referred to as "Publisher", do hereby agree to the following:
On [Date], Publisher published the following described item: [Enumerate].
On the [Date], Claimant requested a retraction of the item published above for the following reasons: [Enumerate].
On the [Date], Publisher published a precise clarification of the item, the outline of which is attached to this agreement on a seperate sheet marked as "Exhibit 1".
The foregoing mentioned outline of this clarification is agreed upon by the parties.
Release of Claims. In consideration of the making of the retraction, Claimant herewith releases Publisher unconditionally from any and all claims related to the above described [Enumerate] including but not limited to claims of libel, defamation of character, invasion of privacy, intentional interference with an advantageous business relationship or any other claim whether legal, equitable or statutory. This release shall extend to all employees, agents, officers, shareholders, insurers and contractors Publisher and shall be binding on the heirs and assigns of Claimant.
Confidential Information. The terms and conditions of this Retraction & Release Agreement shall be confidential, and may not be disclosed to third parties, except for:
(a) a response to a legal obligation to produce this document;
(b) in connection with insurance, risk retention or other bona fide business requirements of Publisher.
Each party hereto has had a chance to fully, adequately and completely review this agreement with legal representatives of their choice.
This agreement is not an direct admission by Publisher of the validity of any claims made by Claimant. There are no other terms or conditions relating to this retraction/release, other than those stated herein and this Retraction & Release Agreement states the entire agreement between the parties, and may only be altered by an instrument in writing.
Further Assurances. In connection with this Agreement and the transactions contemplated hereby, each party to this Agreement will execute and deliver any additional documents and perform any additional acts that may be necessary or appropriate to effectuate and perform its obligations under this Agreement and the transactions contemplated hereby.
Headings. The paragraph headings contained herein are for convenience of reference only and are not to be used in the construction or interpretation hereof.
Severance. The invalidity or unenforceability of any portion of this Agreement shall not affect the remaining provisions and portions hereof.
Entire Agreement. This Agreement including any attachments is the entire agreement between the parties and there are no other promises or conditions in any other written agreement.
This Agreement supersedes any prior oral agreements between the parties.
Agreement Binding. This Agreement shall be binding upon the parties hereto and their respective heirs, administrators, successors, and assigns.
No Assignment. Neither this agreement nor any right or interest thereunder shall be assigned in any respect whatsoever.
Exclusion of Oral Statements. This instrument contains all of the agreements of the parties. No oral or other statements shall be binding on either of the parties hereto.
Applicable Law. This Agreement shall be governed by the laws of the State of [State].
Time of The Essence. Time is the essence of this agreement.
IN WITNESS WHEREOF, the parties have executed this agreement the day and year as first above written at [City], [State].
This Section for Notary:
STATE OF -------)
) ss: [Date]
COUNTY OF ------)
On [Date] before me, [Name of Notary], notary, personally appeared [Name of Person(s) Involved], personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
Witness my hand and official seal.
[Name of Notary Public]
My commission expires: [date]