This remediation agreement template has 6 pages and is a MS Word file type listed under our legal agreements documents.
Sample of our remediation agreement template:
REMEDIATION AGREEMENT This Remediation Agreement ("Agreement") is effective as of [DATE]; BETWEEN: [NAME OF THE COMPANY] (the "Company"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE] with its head office located at: [COMPLETE ADDRESS] AND: [PROSECUTOR, DEPARTMENT] (the "Prosecutor"), under the Government of [State/Province] of [STATE/PROVINCE], with its office located at: [COMPLETE ADDRESS] WHEREAS, the Company is in the business of [SPECIFY DETAILS OF BUSINESS]; WHEREAS, the Company has been charged with [SPECIFY THE OFFENCE]; WHEREAS, the Prosecutor, under the [SPECIFY THE LAW] has agreed to enter into this Agreement with the Company to remediate the Offence committed by it ("Remediation"); WHEREAS, both Parties affirm to understand all of the provisions contained in this Agreement and in case either Party requires clarification as to one or more of the provisions contained herein, either Party has requested clarification or otherwise sought guidance; NOW THEREFORE in consideration and as a condition of the Company and the Prosecutor entering into this Agreement and other valuable considerations, the receipt and sufficiency of which consideration is acknowledged, the Parties agree as follows: PURPOSE OF THIS AGREEMENT The main purposes of this Remediation Agreement would be: To denounce the Company's wrongdoing and the harms that such wrongdoing has caused to victims or to the community; To hold the Company accountable for the wrongdoing; To require the Company to put measures in place to correct the problem and prevent similar problems in the future; To reduce harm that a criminal conviction of the Company could have for employees, shareholders and other third parties who did not take part in the Offence; and To help repair harm done to victims or to the community, including through reparations and restitution. CHARGES AGAINST THE COMPANY The Prosecutor has charged the Company with the following Offence: [SPECIFY IN DETAIL THE OFFENCE THE COMPANY HAS BEEN CHARGED WITH]. ACCEPTANCE OF WRONGDOING This Agreement is entered into solely for acceptance of the charges levied against the Company by the Prosecutor. The Company shall remediate for the Offence committed by it. Accordingly, except as set forth herein, the Prosecutor acknowledges that the Company has admitted fault, wrongdoing, liability, and obligation and shall remediate in accordance with the provisions of this Agreement. REMEDIATION MEASURES The Company shall take such measures which are agreed between the Parties and are listed under Annexure A - Remediation Measures, which is attached to this Agreement. By performing the Remediation Activities, this Agreement would provide an incentive to rectify the wrongdoing of the Company, and this shall avoid the negative consequences of a criminal conviction. The Company shall make a good faith effort to repair or take measures to repair the damage done to the third parties that are not a Party to this Agreement. The Company shall pay the Penalty which is agreed between the Parties and is specified in this Agreement. FINANCIAL PENALTY The Prosecutor has determined that [AMOUNT OF PENALTY] shall be paid by the Company as a Penalty for the Offence with which it has been charged. The Penalty shall be paid on [DATE] via [MODE]. RELINQUISH THE BENEFITS The Prosecutor has determined that the Company has benefitted by the Offence committed by it. After the execution of this Agreement, the Company shall denounce all possible benefits which it received by committing such Offence. TERM OF THE AGREEMENT This Agreement shall be effective from the date of this Agreement until the Remediation is completed by the Company, subject to the other provisions of this Agreement. STANDARD OF CARE The Company shall perform the Remediation Activities with a high degree of skill and care
