Common use of Settlement of Clause in Contracts

Settlement of. the litigation pending in the District Court of Denver County, Denver, Colorado, entitled ▇▇▇▇▇▇ ▇▇▇▇ ▇. ▇▇▇▇▇ MANAGEMENT CORPORATION, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ AND ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, shall be made only as approved or directed by KCSI, and any amounts paid, or obligations incurred, by JMC or JCC (except for the fees and expenses of their counsel) in connection with such litigation, including any settlement thereof not in excess of $100,000 or satisfaction of any judgment obtained therein, shall be borne solely by ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ and ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ provided that they shall bear the costs of settlement up to $100,000 only if they have approved such settlement, in the same proportion as their respective ownership of the shares of JCC and JMC owned by them immediately prior to the Closing Date. If, at the time of any such settlement or judgment, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ or ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ is an employee of JCC, in lieu of receiving reimbursement for any amount that such employee may be liable for hereunder, JCC shall reduce such employee's compensation by such amount.