Opinion ID: 1254822
Heading Depth: 1
Heading Rank: 3

Heading: mutual settlement and release agreement

Text: THIS AGREEMENT is entered into this 15th day of January , 1982, between and among the following parties: Air Products & Chemicals, Inc., (hereinafter APCI); and Chicago Bridge & Iron Company, (hereinafter CBI); and Graver Tank & Manufacturing Company, Graver Tank & Manufacturing Company  Northeast Region, Aerojet-General Corporation, General Tire & Rubber Company, Trans-Union Corporation, Union Tank Car Company, Graver Energy Systems, Inc., (hereinafter jointly Graver); and American Chain & Cable Company, ACCO Industries, Inc., (hereinafter jointly ACCO); and Shand & Jurs Manufacturing Company, G.P.E. Controls, Inc., General Precision Equipment Corporation, The Singer Company, Vapor Corporation (hereinafter jointly Vapor); in order to mutually settle and release any and all of the actions, suits and claims which exist among them, including claims among them which have resulted from suits filed by others, arising out of the rupture of a cryogenic storage tank and the events immediately following this rupture on January 31, 1978, at the APCI and Mobay Chemical Corporation plants at New Martinsville, West Virginia (hereinafter the New Martinsville incident). It is understood and agreed between the parties to this Agreement that it is entered into solely to amicably resolve and settle disputes existing among the parties and is in no way to be considered an admission of liability or fault by any party hereto. NOW THEREFORE, in consideration of the foregoing and the mutual agreements and representations contained herein, each of the parties hereto covenants and agrees as follows, intending to be legally bound: 1. Each party hereto settles, releases and discharges and agrees to withdraw, discontinue and dismiss with prejudice, as far as may be possible under the applicable rules of civil procedure, any and all of the actions, suits and claims which it has filed or made, or could have filed or made, against any other party to this Agreement arising out of the New Martinsville incident. 2. CBI, Graver, ACCO and Vapor agree collectively to pay to APCI the sum of one dollar ($1.00) and other good and valuable consideration. APCI acknowledges that this sum and other good and valuable consideration have been paid. 3. APCI agrees to indemnify, hold harmless from loss, damage or liability, and from and after the date of this Agreement defend, CBI, Graver, ACCO and Vapor, their officers, directors, employees, predecessors, successors, insurors and assigns, for, from and against the following: any and all actions, suits, claims, cross-claims, counterclaims, and any other liability whatsoever, including related defense costs, attorneys fees, expenses and interest, which anyone, including but not limited to any of the following persons or entities has filed or made, or could have filed or made, arising out of personal injury, death, property damage, or business interruption directly resulting from the New Martinsville incident: Air Products & Chemicals, Inc.; Mobay Chemical Corporation, (hereinafter Mobay); Industrial Valve Service; I.V.S. Hydro, Inc.; I.V.S. Inc.; Baltimore and Ohio Railroad Company; Marjorie H. Luster, as Executrix of the Estate of James H. Luster; Dorothy A. Weber, as Administratrix of the Estate of Michael Weber; Donna W. Henry, as Executrix of the Last Will and Testament of Joseph A. Henry; Mary Sue Rodriguez, as Administratrix of the Estate of Benjamin F. Rodriguez; and; Ralph James Barrows, as Administrator of the Estate of Robert Barrows. except for any defense costs, including attorney's fees expenses or interest, which have heretofore been incurred by CBI, Graver, ACCO and Vapor. 4. CBI, Graver, ACCO and Vapor agree to accept the counsel selected by APCI and otherwise cooperate with APCI in defending against any actions, claims or suits arising out of the New Martinsville incident and at APCI's request and expense shall attend depositions, hearings, and trials and shall make available and assist in securing, files, documents, and evidence, as well as the attendance and testimony of witnesses who are their employees, and shall exercise reasonable efforts to make available any expert and other non-employee witnesses previously retained by them in connection with the New Martinsville incident. 5. CBI, Graver, ACCO and Vapor agree to continue, at their own expense and through their present counsel of record, to oppose, until initial disposition (including rehearing, if any) by the trial court, the Motion of Defendant Mobay for Leave to File Cross-claims against the Third Party Defendants recently filed by Mobay in the action in the United States District Court for the Southern District of Ohio, Eastern Division, Case No. C-2-79-L69. However, it is understood and agreed that if CBI, Graver, ACCO and Vapor are unsuccessful in their opposition to Mobay's Motion, APCI will indemnify, hold harmless from loss, damage or liability, and defend CBI, Graver, ACCO and Vapor as set forth in paragraph 3 above. 6. CBI, Graver, ACCO and Vapor agree to withdraw forthwith any and all Motions or discovery notices, requests or other matters not heretofore withdrawn directed to APCI in all of the actions and suits now pending arising out of the New Martinsville incident. 7. It is understood and agreed between the parties to this Agreement that this is a complete Mutual Settlement and Release Agreement and that there are no written or oral understandings or agreements directly or indirectly connected with this agreement that are not incorporated herein. 8. The parties to this Agreement hereby declare that they fully understand the terms of this Agreement and that the Agreement has been voluntarily accepted for the purpose of making a full and final settlement and release of the various claims presently existing between the parties. 9. The parties understand and agree that six originals of this Agreement have been executed and that any signed original is as effective as if it were the only original. 10. The terms of this Agreement shall be construed and interpreted in accordance with the laws of the Commonwealth of Pennsylvania. It is the intention of the parties hereto that this Agreement shall be valid and enforceable under any applicable law. 11. The agreement to indemnify, hold harmless from loss, damage or liability and defend herein provided for will extend from the date of this Agreement until all actions, suits or claims arising out of the New Martinsville incident have been terminated with prejudice. IN WITNESS WHEREOF, the parties hereto, intending to be legally bound, have caused this Agreement to be executed.