The High-Low Settlement Agreement serves as a risk mitigation tool in Canadian civil litigation, commonly used when parties wish to proceed with trial or arbitration while limiting their exposure to extreme outcomes. This type of agreement is particularly valuable in cases with uncertain liability or damages, such as personal injury claims, insurance disputes, or complex commercial litigation. It establishes predetermined minimum and maximum settlement amounts, providing the plaintiff with guaranteed minimum compensation while capping the defendant's maximum liability. The agreement operates within Canadian legal framework and can be especially useful when insurance policy limits are a concern or when parties want to avoid the uncertainty of appeals. The document typically includes specific trigger events, payment mechanisms, and release terms, while maintaining the parties' right to pursue their case through the legal system.
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1. Parties: Identifies and defines all parties to the agreement, including plaintiff(s), defendant(s), and any insurers involved
2. Background: Outlines the nature of the dispute, existing legal proceedings, and context for the high-low agreement
3. Definitions: Defines key terms used throughout the agreement, including 'High Amount', 'Low Amount', 'Trigger Event', etc.
4. High-Low Parameters: Specifies the maximum (high) and minimum (low) settlement amounts and conditions for each
5. Trigger Event: Defines the event (typically trial verdict or arbitration award) that will determine the final settlement amount
6. Payment Terms: Specifies how and when payment will be made after the trigger event
7. Release and Discharge: Details the scope of claims being released upon settlement
8. Confidentiality: Sets out confidentiality obligations regarding the agreement terms
9. Governing Law: Specifies that Canadian law governs the agreement and jurisdiction for disputes
10. Entire Agreement: Confirms the agreement represents the complete understanding between parties
11. Execution: Signature blocks and execution requirements
1. Multiple Party Provisions: Include when there are multiple plaintiffs or defendants to address allocation of settlement amounts
2. Insurance Coverage: Include when insurer involvement needs to be specifically addressed
3. Costs and Interest: Include when specific arrangements for legal costs and interest calculations need to be addressed
4. Tax Implications: Include when settlement amounts have significant tax consequences requiring specific handling
5. Dispute Resolution: Include when specific dispute resolution mechanisms for agreement interpretation are needed
6. Third Party Claims: Include when there are potential third party claims or indemnities to address
7. Conditional Terms: Include when settlement is subject to specific conditions precedent
1. Schedule A - Calculation Framework: Details the mathematical framework for calculating final settlement amount based on trigger event outcome
2. Schedule B - Payment Schedule: If applicable, provides detailed payment terms, installment schedules, or payment conditions
3. Schedule C - Release Terms: Detailed terms of release and discharge of claims
4. Appendix 1 - Related Proceedings: List of all related legal proceedings affected by the agreement
5. Appendix 2 - Supporting Documents: Key documents referenced in the agreement such as insurance policies or court documents
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Compliance Officer
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Chief Legal Officer
Insurance Claims Manager
Mediation Specialist
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