This mutual release, executed on (date), between (name of the first party) of (address), City of __, Country of __, State of__, and (name of the second party) of (address)__, City of __, Country of __, State of __, is intended to effect the elimination of any obligations by either party as hereinafter designated.
Whereas, disagreements and differences have arisen between the parties with respect to that certain contract entered into by said parties and executed on (date) __, a copy of which is attached hereto as Exhibit A, both parties have agreed to settle said disagreements and differences by executing this mutual release.
Whereas, both parties recognize that by the execution of this mutual release, they are abandoning their respective legal rights with reference to the herein mentioned disputes
and differences, both parties agree that in consideration of this execution of this mutual release, and for the added consideration of the payment of (amount) Dollars, ($ ) by (name of the first party) to (name of the second party) , receipt of which is hereby acknowledged, and the payment of (amount) Dollars, ($ ) by (name of the second party) to (name of the first party), receipt of which is hereby acknowledged, each party for his heirs and assigns, expressly releases the other party, and his heirs and assigns, from all liability for claims and/or demands which may arise from that certain contract referenced herein
and attached hereto.
In witness whereof the parties have executed this mutual release at (place of execution) on the day and year stated above.