Settlement Agreement and Release

This General Release (the "Agreement") dated this _ _ _ _ day of _ _ _ _ _ _ _ _, _ _ _ _ (Effective Date)

BETWEEN:

Consideration

1. In consideration of the sum of ₹_ _ _ _ _ _ _ _ _, paid by cash, the receipt and sufficiency of which consideration is acknowledged, the Releasor releases and forever discharges the Releasee, the Releasee's spouse, heirs, executors, administrators, legal representatives and assigns from all manner of actions, causes of action, debts, accounts, bonds, contracts, claims and demands for or by reason of any damage, loss or injury to person and property which has been or may be sustained as a consequence of the dispute detailed below.

Dispute Details

2. The claim or dispute occurred as a result of: _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _.

Concurrent Release

3. The Releasor acknowledges that this release is given with the express intention of effecting the extinguishment of certain obligations owed to the Releasor, and with the intention of binding the Releasor's spouse, heirs, executors, administrators, legal representatives and assigns.

Full and Final Settlement

4. For the above noted consideration, the parties to this Agreement further agree not to make claim or take proceedings against any other person or corporation which might claim contribution or indemnity under the provisions of any statute or otherwise.

5. It is declared that the terms of this settlement are fully understood; that the amount or type of consideration stated is the sole consideration for this Agreement and that the sum is accepted voluntarily for the purpose of making a full and final compromise, adjustment and settlement of all claims for injuries, losses and damages resulting or which may result from the above noted dispute.

6. This Agreement contains the entire agreement between the parties to this release and the terms of this release are contractual and not a mere recital.

No Admission of Liability

7. It is agreed that the payment is not deemed to be an admission of liability on the part of the Releasee.

Applicable Law

8. This Agreement will be governed by and construed in accordance with the laws of the State of Delhi.