Exhibit 10.1
 
 
 
 
SETTLEMENT AGREEMENT & GENERAL RELEASE
 
THIS SETTLEMENT AGREEMENT & GENERAL RELEASE ("Settlement Agreement") is made and
entered into by and between Splash Beverage Group, Inc., on behalf of itself,
its agents, representatives, assignees, attorneys, and administrators
(collectively "SBG" or "Party"), and KonaRed Corporation, on behalf of itself,
its agents, representatives, assignees, attorneys, and administrators
(collectively "KonaRed" or "Party") (hereinafter SBG and KonaRed referred to
collectively as the "Parties").
 
I.             RECITALS
 

A.
On or about April 22, 2014, KonaRed and SBG entered into a Confidential
Distribution Agreement ("CDA") and a Sales and Marketing Services Agreement
("SMSA").

 

B.
Disputes have arisen regarding performance under the CDA and SMSA.

 

C.
SBG commenced a lawsuit against KonaRed in the Circuit Court of the Seventeenth
Judicial Circuit in and for Broward County, Florida styled Splash Beverage
Group, Inc. v. KonaRed Corporation and bearing Case No. 15-022541 CACE (09) (the
"Lawsuit").

 

D.
SBG commenced an arbitration against KonaRed before the American Arbitration
Association styled Splash Beverage Group, Inc. v. KonaRed Corporation and
bearing Case No. Case 01-16-0002-5099 (the "Arbitration").  The Lawsuit and the
Arbitration are collectively referred to herein as the "Litigation."

 
 
 
 
 
 
 

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E.
The Parties desire to enter into this Settlement Agreement: (i) in order to
provide for the formal cancellation of the CDA and SMSA; (ii) for the settlement
and discharge of all alleged claims by SBG and KonaRed;  which are the subject
or could have been the subject of the Litigation, including all claims,
counterclaims, defenses, and claims for attorneys' fees and/or costs upon the
terms and conditions set forth herein; and(iii) to provide mutual general
releases.  Nothing within this Settlement Agreement shall constitute an
admission of any liability or wrongdoing alleged or that could have been alleged
in the Litigation or any admission of liability or wrongdoing by either Party as
to any matter(s) generally released.

 
II.            GENERAL PROVISIONS
 
In exchange of good and valuable consideration, the receipt of which is
acknowledged by both Parties, the Parties hereby agree as follows:
 
A.            Recitals
 
The Recitals set forth above are true and correct.
 
B.             Release & Discharge by SBG
 
SBG hereby completely releases and forever discharges KonaRed and its past,
present and future officers, directors, partners, stockholders, attorneys,
agents, servants, representatives, employees, subsidiaries, affiliates,
partners, predecessors and successors in interest, and assigns, and all other
persons, firms, entities, or corporations with whom any of the former have been,
are now or may hereafter be affiliated  (collectively referred to herein as "the
KonaRed Released Parties") from any and all past, present or future alleged
claims, demands, obligations, actions, causes of action, rights, damages,
punitive damages, attorneys' fees, costs, expenses and compensation of any
nature whatsoever, known or unknown, from the beginning of time to the date of
this Settlement Agreement, including but not limited to all claims that were
made or could have been made in the Litigation.
 
 
 
 
 
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C.             Release & Discharge by KonaRed
 
KonaRed hereby completely releases and forever discharges SBG and its past,
present and future officers, directors, partners, stockholders, attorneys,
agents, servants, representatives, employees, subsidiaries, affiliates,
partners, predecessors and successors in interest, and assigns, and all other
persons, firms, entities, or corporations with whom any of the former have been,
are now or may hereafter be affiliated  (collectively referred to herein as "the
SBG Released Parties") from any and all past, present or future alleged claims,
demands, obligations, actions, causes of action, rights, damages, punitive
damages, attorneys' fees, costs, expenses and compensation of any nature
whatsoever, known or unknown, from the beginning of time to the date of this
Settlement Agreement, including but not limited to all claims that were made or
could have been made in the Litigation.
 
D.             Cancellation of the CDA and SMSA
 
To avoid any doubt regarding the status of the CDA and SMSA, the Parties agree
that such agreements have been cancelled and that the Parties owe no further
obligations to each other pursuant to either agreement.
 
III.           PARTICIPATION IN OTHER CASES
 
Each party represents and warrants that, other than the Litigation, it has no
other claims, suits, actions or charges filed against the other party. To the
extent permitted by applicable law, each party covenants and agrees never to
commence or prosecute, or assist in the commencement or prosecution of, or in
any way to cause, permit, advise, or encourage, to be commenced, or prosecuted,
against the KonaRed Released Parties or the SBG Released Parties, as the case
may be, any action or proceeding or to assert against the KonaRed Released
Parties or SBG Released Parties, in any action or proceeding any demands, causes
of action, obligations, damages, or
 
 
 
 
 
 
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liabilities of any nature whatsoever, whether or not now known, suspected, or
claimed which the respective party ever had, now have, or hereafter may have, or
claim to have, against KonaRed Released Parties or SBG Released Parties as the
case may be, by reason of any act, transaction, practice, conduct, or omission
of KonaRed Released Parties or SBG Released Parties, as the case may be, that
occurred prior to the date of this Settlement Agreement.
 
IV.           ATTORNEYS' FEES AND COSTS
 
Each Party hereto shall bear all attorneys' fees and costs arising from the
actions of their own counsel in connection with the Litigation, this Settlement
Agreement, and the matters and documents referred to herein (including the CDA
and SMSA), the filing of a Stipulation of Dismissal with Prejudice and all
related matters concerning their relationship from the beginning of time until
the execution date of this Settlement Agreement ("Effective Date").
 

V.
DELIVERY OF STIPULATION OF DISMISSAL WITH PREJUDICE

 
Along with SBG's executed copy of this Settlement Agreement, counsel for SBG
will deliver to Counsel for KonaRed: (i) an executed Stipulation of Dismissal
with Prejudice of the Lawsuit attached hereto as Exhibit "A"; and (ii) an
executed Stipulation of Dismissal with Prejudice of the Arbitration attached
hereto as Exhibit "B".  Counsel for KonaRed will execute and file both
stipulations of dismissal with prejudice within five (5) business days of
receiving such executed Stipulations of Dismissal for the Lawsuit and the
Arbitration from counsel for SBG.
 
 
 
 
 
 
 
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VI.
NON-ASSIGNMENT

 
SBG and KonaRed represents and warrants that no other person or entity has or
has had any interest in the respective Party's claims, demands, obligations or
causes of action referred to in the Litigation and/or this Settlement Agreement;
that it has not sold, assigned, transferred, conveyed or otherwise disposed of
any of the claims, demands, obligations or causes of action referred to in the
Litigation or this Settlement Agreement.
 

VII.
ENTIRE AGREEMENT & SUCCESSORS IN INTEREST

 
This Settlement Agreement contains the entire agreement between SBG and KonaRed
with regard to the matters set forth in it, and shall be binding upon and inure
to the benefit of the successors and assigns of each Party.  There are no other
understandings or agreements, verbal or otherwise, in relation thereto between
the Parties that have been relied upon by either Party, except as herein
expressly set forth.  The Parties agree that should any provision of this
Settlement Agreement require interpretation or construction that all parties
have participated in the drafting of this document and no presumption regarding
construing the document against one Party shall apply.
 
VIII.        CONSTRUCTION BY STATE LAW
 
This Settlement Agreement shall be construed and interpreted in accordance with
the laws of the State of Nevada.  The Parties hereby submit to the exclusive
jurisdiction of the courts of Clark County, Nevada to resolve any and all
disputes arising out of or connected to this Settlement Agreement.
 
IX.          CAPACITY TO EXECUTE THE SETTLEMENT AGREEMENT
 
Each Party represents and warrants to the other that: (i) all appropriate
corporate formalities related to the authorization needed to execute this
Settlement Agreement have been appropriately completed; and (ii) the persons
executing the Settlement Agreement have been given the authority to execute this
Settlement Agreement.
 
 
 
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X.
EFFECTIVENESS

 
The Settlement Agreement may be executed in counterparts and scanned copies
shall be deemed to be an original document.
 
Effective this 18th day of  October, 2016.

SPLASH BEVERAGE GROUP, INC.

By: /s/ Robert Nistico

Its: CEO

KONARED CORPORATION

By: /s/ Kyle Redfield

Its: President
 
 
 
 
 
 
 
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EXHIBIT A

IN THE CIRCUIT COURT OF THE SEVENTEENTH JUDICIAL CIRCUIT
IN AND FOR BROWARD COUNTY, FLORIDA

CASE NO.: 15-022541 CACE (09)

SPLASH BEVERAGE GROUP, INC..

Plaintiff,

v.

KONARED CORPORATION,

Defendant,

______________________________________/

PARTIES' JOINT STIPULATION OF DISMISSAL WITH PREJUDICE

Plaintiff, Splash Beverage Group, Inc., and Defendant, KonaRed Corporation,
pursuant to the parties' Settlement Agreement and General Release executed on
October 18, 2016, hereby stipulate to the dismissal with prejudice of the
above-styled action, with each party to bear its own attorney's fees and costs.
 
 
 
 
 
 
 
 
 

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BURATTI, P.A.
ZUMPANO PATRICIOS & WINKLER P.A.
   
By: /s/ Jason Buratti
By: /s/ Leon N. Patricios
Jason Buratti
Leon N. Patricios
Florida Bar No. 73756
Florida Bar No. 12777
7935 East Drive, Suite 804
lpatricios@zplaw.com
North Bay Village, Florida 33141
Martha M. Esperon
Primary e-mail: jasonburatti@gmail.com
Florida Bar No. 15244
Tel (954) 683-1072
mesperon@zpwlaw.com
 
312 Minorca Avenue
Paul Silverberg
Coral Gables, 33134
SILVERBERG & WEISS, P.A.
Tel: 305-444-5565
Florida Bar Number 147877 1290
Fax: 305-444-8588
Weston Road, Suite 218
 
Weston, Florida 33326
 
Primary email: Notices@pkslegal.com
Counsel for Defendant:
Tel (954) 384-0998 Fax (954)384-5390
KonaRed Corporation

 
Counsel for Plaintiff:
Splash Beverage Group, Inc.
 
 
 
 
 
 
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EXHIBIT B

AMERICAN ARBITRATION ASSOCIATION

CASE NO.: 01-16-0002-5099

SPLASH BEVERAGE GROUP, INC..

Claimant,

v.

KONARED CORPORATION,

Respondent,

______________________________________/

PARTIES' JOINT STIPULATION OF DISMISSAL WITH PREJUDICE

Plaintiff, Splash Beverage Group, Inc., and Defendant, KonaRed Corporation,
pursuant to the parties' Settlement Agreement and General Release executed on
October 18, 2016, hereby stipulate to the dismissal with prejudice of the
above-styled action, with each party to bear its own attorney's fees and costs.
 
 
 
 
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BURATTI, P.A.
ZUMPANO PATRICIOS & WINKLER P.A.
   
By: /s/ Jason Buratti
By: /s/ Leon N. Patricios
Jason Buratti
Leon N. Patricios
Florida Bar No. 73756
Florida Bar No. 12777
7935 East Drive, Suite 804
lpatricios@zplaw.com
North Bay Village, Florida 33141
Martha M. Esperon
Primary e-mail: jasonburatti@gmail.com
Florida Bar No. 15244
Tel (954) 683-1072
mesperon@zpwlaw.com
 
312 Minorca Avenue
Paul Silverberg
Coral Gables, 33134
SILVERBERG & WEISS, P.A.
Tel: 305-444-5565
Florida Bar Number 147877 1290
Fax: 305-444-8588
Weston Road, Suite 218
 
Weston, Florida 33326
 
Primary email: Notices@pkslegal.com
Counsel for Defendant:
Tel (954) 384-0998 Fax (954)384-5390
KonaRed Corporation
   
Counsel for Plaintiff:
 
Splash Beverage Group, Inc.
 

 
 
 
 
 
 
 
 
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