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SCHEDULE "A"

 

THIS RELEASE dated for reference _________________, 19___

 

RELEASE

WHEREAS MacMillan Bloedel Limited (the "Releasor"), pursuant to the Settlement Agreement dated for reference________________, 19___ (the "Settlement Agreement") has agreed to release Her Majesty the Queen in Right of the Province of British Columbia (the "Releasee") in respect of certain claims, as itemized in the Settlement Agreement (and referred to therein and below as the "Claim"), and in consideration of the promises contained herein and in the said Settlement Agreement and other good and valuable consideration (the receipt and sufficiency of which is hereby acknowledged by the Releasor) the Releasor hereby agrees as follows:

RELEASE

The RELEASOR, its administrators, successors and assigns and each of them, DOES HEREBY REMISE, RELEASE AND FOREVER DISCHARGE the RELEASEE of and from claims arising out of the Releasor's claim for compensation for the reduction or deletion of areas within its timber agreements, as itemized in the Settlement Agreement, and, in particular, arising out of the subject matter of an action in the Supreme Court of British Columbia, Action No. A972476 (the "Action"), and an arbitration commenced by Notice of Arbitration dated July 25, 1995 in respect of the creation of Carmanah Pacific Park (the "Arbitration") except that it is agreed and understood that the Releasor retains the right to enforce the Settlement Agreement and to commence proceedings if necessary to do so.

NO ADMISSION OF LIABILITY

IT IS EXPRESSLY UNDERSTOOD AND AGREED that this Release is a compromise of disputed claims and neither this Release nor the Settlement Agreement shall not be construed as an admission of liability by any of the parties hereto with respect to any claim of any party.

 

 

 

COVENANT NOT TO SUE

IT IS FURTHER UNDERSTOOD AND AGREED that for the consideration expressed herein the RELEASOR expressly agrees not to make any further claim or take any further proceedings, in respect of any matters which are the subject of this Release, except in order to enforce the Settlement Agreement.

 

IN WITNESS THEREOF:

 

THE COMMON SEAL of MacMillan Bloedel Limited was hereunto affixed in the presence of:

 

Authorized Signatory

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