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This Deed of Release is for use where there is more than one Releasor and more than one Releasee, each of which may be a combination of companies and individuals. This is useful in the situation where a company or individual is giving a release to a company and one or more directors.
A Deed of Release is entered into where one party is released from the possibility of further action by a second party in relation to a possible claim for compensation in return for a lump sum payment. It is usually in full settlement of all outstanding issues between the parties.
Please Note that in most States and Territories of Australia a deed of release preventing future workers' compensation claims will not be enforceable.
This Deed of Release includes the following provisions:
2. Consideration for the Release
3. Release by Releasor
5. Deed May be Pleaded as Bar to Actions
6. Entire Agreement
10. Any Other Necessary Acts
11. Independent Legal Advice