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1. Parties: Identification of all parties to the agreement, including full legal names and addresses
2. Background: Recitals explaining the context of the dispute and the parties' desire to settle
3. Definitions: Definitions of key terms used throughout the agreement
4. Settlement Sum: Details of the settlement amount and payment terms
5. Release and Waiver: Comprehensive description of claims being released and waived
6. Acknowledgments: Parties' confirmations regarding understanding of the agreement and independent legal advice
7. Confidentiality: Obligations to keep the settlement and its terms confidential
8. Non-admission: Statement that the settlement does not constitute admission of liability
9. Entire Agreement: Confirmation that this document represents the complete agreement between parties
10. Governing Law and Jurisdiction: Specification of Hong Kong law as governing law and jurisdiction
11. Execution: Signature blocks and execution requirements
1. Non-disparagement: Mutual obligations not to make negative statements about other parties - typically used in high-profile or employment-related settlements
2. Return of Property: Requirements for returning documents or property - relevant when parties have exchanged materials during their relationship
3. Tax Treatment: Specifications about tax implications and responsibilities - important for large settlements or when tax efficiency is a concern
4. Future Cooperation: Obligations for parties to cooperate on related matters - useful in ongoing business relationships
5. Insurance: Provisions relating to insurance claims and coverage - relevant when insurance is involved in the settlement
6. Surviving Claims: Identification of any claims that survive the settlement - needed when certain rights are preserved
7. Third Party Rights: Provisions under the Contracts (Rights of Third Parties) Ordinance - relevant when third party rights are affected
1. Schedule 1 - Details of the Dispute: Comprehensive description of the underlying dispute and any related proceedings
2. Schedule 2 - Payment Schedule: Detailed payment terms, installments, and payment mechanisms if applicable
3. Schedule 3 - Released Claims: Specific list of all claims being released and waived
4. Schedule 4 - Required Actions: List of specific actions parties must take to implement the settlement
5. Appendix A - Related Proceedings: List of all legal proceedings to be discontinued
6. Appendix B - Form of Announcement: Agreed form of any public announcement about the settlement if applicable
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