Amendment and General Release Clause Samples
The Amendment and General Release clause serves to formally modify the terms of an existing agreement while simultaneously releasing the parties from certain past or potential claims related to the contract. In practice, this clause allows the parties to agree on specific changes—such as adjusting obligations, deadlines, or payment terms—and typically requires both parties to acknowledge that, aside from the amended terms, they waive any rights to pursue legal action over previous disputes or breaches. Its core function is to provide a clear, mutual understanding of the updated agreement and to prevent future litigation over issues that have been resolved or released as part of the amendment process.
Amendment and General Release. The Butadiene Sales Contract (Europe), dated as of April 1, 2010, between Dow Europe GmbH and ▇▇▇▇▇▇ Europe GmbH (the “Initial Contract”), is hereby amended and restated in its entirety and shall no longer be in force and effect. Each of the Parties hereto hereby irrevocably, unconditionally and completely releases and discharges the other Party hereto and its respective affiliates, directors, officers, employees, agents, successors and assigns from all current and future rights, claims, causes of action, liabilities and obligations arising under or relating to the Initial Contract, including, without limitation, all claims and payments due thereunder. This release shall be effective as of 11:59p.m. Eastern Daylight Time on June 16, 2010. The Parties hereto hereby agree and acknowledge that there are no payments or other obligations outstanding as of 11:59p.m. Eastern Daylight Time on June 16, 2010 pursuant to the Initial Contract. DOW EUROPE GMBH ▇▇▇▇▇▇ EUROPE GMBH BY: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ BY: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ NAME: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ NAME: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ TITLE: Authorized Representative TITLE: Authorized Representative Date Executed: June 17, 2010 Date Executed: June 17, 2010 ▇▇▇▇▇▇ EUROPE GMBH BY: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇ NAME: ▇▇▇▇▇▇▇ ▇▇▇▇ TITLE: Authorized Representative Date Executed: June 17, 2010
Amendment and General Release. The Ethylene Sales Contract (Europe), dated as of April 1, 2010, between Dow Europe GmbH and ▇▇▇▇▇▇ Europe GmbH (the “Initial Contract”), is hereby amended and restated in its entirety and shall no longer be in force and effect. Each of the Parties hereto hereby irrevocably, unconditionally and completely releases and discharges the other Party hereto and its respective affiliates, directors, officers, employees, agents, successors and assigns from all current and future rights, claims, causes of action, liabilities and obligations arising under or relating to the Initial Contract, including, without limitation, all claims and payments due thereunder. This release shall be effective as of 11:59p.m. Eastern Daylight Time on June 16, 2010. The Parties hereto hereby agree and acknowledge that there are no payments or other obligations outstanding as of 11:59p.m. Eastern Daylight Time on June 16, 2010 pursuant to the Initial Contract. DOW EUROPE GMBH ▇▇▇▇▇▇ EUROPE GMBH BY: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ BY: NAME: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ NAME: TITLE: Authorized Representative TITLE: Date Executed: June 17, 2010 Date Executed: June 17, 2010 ▇▇▇▇▇▇ EUROPE GMBH BY: NAME: TITLE: Date Executed: June 17, 2010 DOW EUROPE GMBH ▇▇▇▇▇▇ EUROPE GMBH BY: BY: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ NAME: NAME: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ TITLE: TITLE: Authorized Representative Date Executed: June 17, 2010 Date Executed: June 17, 2010 ▇▇▇▇▇▇ EUROPE GMBH BY: NAME: TITLE: Date Executed: June 17, 2010 DOW EUROPE GMBH ▇▇▇▇▇▇ EUROPE GMBH BY: BY: NAME: NAME: TITLE: TITLE: Date Executed: June 17, 2010 Date Executed: June 17, 2010 ▇▇▇▇▇▇ EUROPE GMBH BY: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇ NAME: ▇▇▇▇▇▇▇ ▇▇▇▇ TITLE: Authorized Representative Date Executed: June 17, 2010