This serves as a formal settlement agreement reached between RYCO Performance and Ryan Pannell, pertaining to the breach of the Terms of Service as outlined on the company's website and acknowledged by Mr. Pannell at the point of purchase. In resolution of this matter, Mr. Pannell hereby agrees to remit the sum of $1400, constituting one-third of the total incurred expenses. Additionally, as a consequence of this settlement, Mr. Pannell shall forfeit any entitlement to procure RYCO Performance Products henceforth. It is duly noted that any prospective violations of the aforementioned Terms of Service will necessitate further discussions and a complete reimbursement for any loss incurred due to product misuse. With the successful fulfillment of the payment terms, both parties mutually acknowledge the fulfillment and satisfaction of this settlement agreement.
