TERMS OF SETTLEMENT

IN THE HIGH COURT OF THE FCT

IN THE ABUJA JUDICIAL DIVISION

HOLDEN AT ABUJA

SUIT NO: BN/09/56 BETWEEN

SILVANUS ORIOLA ------ ----- -------- PLAINTIFF

AND

KROWN KAY ------- ------ DEFENDANT

TERMS OF SETTLEMENT

WHEREAS:

• The plaintiff instituted this action at the High Court of the Federal Capital Territory, Abuja.
• The parties having held series of meetings have resolved and agreed to settle all the issues related thereto.

IT IS HEREBY AGREED AS FOLLOWS:

• The defendant shall pay to the plaintiff the sum N1, 980,000 (one million, nine hundred and eighty thousand naira) only being the amount the plaintiff wants the defendant to refund to him.
• That the defendant shall pay to the defendant the plaintiff the said sum of N1, 980,000 (one million, nine hundred and eighty thousand naira) only on four installments.
• That the four installments shall be as follows:
• The defendant shall pay to the plaintiff the 1st installment of N500, 000 (five hundred thousand naira) only on the 2nd day of August, 2012.
• The defendant shall pay to the plaintiff the 2nd installment of N500, 000 (five hundred thousand naira) only on the 2nd day of October, 2012.
• The defendant shall pay to the plaintiff the 3rd installment of N500, 000 (five hundred thousand naira) only on the 2nd day of December, 2012.
• The defendant shall pay to the plaintiff the 4th and final installment of N480, 000 (four hundred and eighty thousand naira) only on the 2nd day of February, 2012.
• That the above shall be the terms of settlement agreed to by both parties to this suit.

DATED THIS ---------- DAY OF --------------------- 2015

___________________ ___________________

SILVANUS ORIOLA DIRECTOR KROWN KAY

(Plaintiff)

___________________________

COMPANY SECRETARY KROWN KAY

(Defendant)

_________________ ______________________ UWEM .U. UMOAWAN, ESQ. Okonkwo, ESQ.

(Notary Public) Okonkwo, Garba & Co

Saka & CO. Defendant's Solicitors

Plaintiff's Solicitors 8, Meridian Tutorial Centre, 3, Hall of Mercy, By Area 1 Garki, Abuja.