SETTLEMENT AND MUTUAL RELEASE AGREEMENT
This Settlement and Mutual Release Agreement (“Agreement”) is made and entered into by and between, on the
one hand, AXIS Insurance Company (“AXIS”), and, on the other hand, CCA Industries, Inc. (“CCA”).
A. “Parties” shall mean AXIS and CCA.
B. “Policy” shall mean Multimedia Liability Policy number MCN 633062 issued to CCA.
C. “Released Claims” shall mean the claims in the action styled as Denise Wally et al. v. CCA Industries, Inc.,
Los Angeles County Superior Court Case No. BC 422833, and any other claim(s) that involve(s) the same or
related subject, person, class of persons or have common facts or circumstances or involve common transactions,
infringements, events or decisions as that action, regardless of the number of repetitions, alternations, actions or
forms of communications.
1. AXIS agrees to pay fifty percent (50%) of any combination of defense fees/costs incurred for, any settlement of,
or any judgment on the Released Claims, up to a total of Four Hundred Seventy-Five Thousand Dollars
($475,000), within 30 days after the presentation of invoices setting forth such defense fees/costs, settlement,
agreement, or judgment. AXIS’s obligation to make payments with respect to the Released Claims will cease once
it has paid $475,000 to or on behalf of CCA with respect to the Released Claims.
2. CCA will present any defense fees/cost invoices, settlement agreements and/or judgments for such payment to
AXIS as set forth in paragraph 2a. below, and AXIS should direct its payments to CCA as set forth in paragraph
a. CCA shall present invoices setting forth defense fees/costs invoices and/or any settlement agreement or
judgment to AXIS by delivery to AXIS’s counsel as follows:
Nelson Hsieh, Esq.
Robert Seeds, Esq.
Greenan Peffer Sallander & Lally LLP
6111 Bollinger Canyon Road, Suite 500
P.O. Box 10
San Ramon, CA 94583-0010
b. AXIS s