SEPARATION AGREEMENT

THIS SEPARATION AGREEMENT (the "Agreement") dated this ________ day of ________________, ________.

1. 
   BACKGROUND:
   
   
1. Scott M Malouin and Michele M Malouin (collectively the "Parties" and individually a "Party") were lawfully married on April 28th, 2001, in Vale, North Carolina. Due to certain differences that have developed between the Parties, they agree to live separate and apart from each other, subject to the terms and conditions in this Agreement.
   
2. The Parties have made complete, fair and accurate disclosure to each other on all financial matters reflected in this Agreement.
   
3. The terms of this Agreement are intended to settle the matters addressed and may be incorporated into a final decree of divorce, unless specific matters are amended or addressed in a subsequent separation agreement.
   
4. The Parties have each voluntarily entered into this Agreement and have not been forced by anyone to sign this Agreement, and both the Parties confirm that they are in sound mental health.
   

IN CONSIDERATION OF the mutual promises and covenants contained in this Agreement, and other valuable consideration, the receipt and sufficiency of which consideration is acknowledged, the Parties agree as follows:

1. LIVING SEPARATE AND APART
   
1. The Parties have lived separate and apart since March 26, 2023. Neither Party will attend the other's living space or work without invitation or approval.
   
2. INTERFERENCE
   
2. Each Party will be free from the interference, authority or control of the other Party as fully as though each were single and unmarried. Each Party may engage in any employment, business or profession, and reside where he or she may choose, free from any interference, restriction, authority, or control of the other Party. Each Party agrees not to interfere, bother, harass, intimidate or otherwise restrict the other Party or their family or friends at their respective residences, places of employment or any other place.
   
3. CHILDREN
   
3. There are 2 children of the marriage, namely:
   

   Name:	Date of Birth:
   Austin S Malouin	March 23, 2005
   Amber M Malouin	November 22, 2006

4. 
   CHILD CUSTODY
   
4. The Parties agree that joint legal custody is in the best interests of the children. The Parties agree that both parents are fit and proper persons to have joint responsibility for the care of the children.
   
5. The Parties agree that the children will primarily reside with Scott M Malouin.
   
6. The Parties also agree that the Parties will have the following visitation time with the children:
   
   1. Regular visitation schedule:
      The kids are old enough to go visit Michele on their own when ever they want.
      
   2. Vacation visitation schedule:
      The kids are old enough to choose on their own and should spend time with both parents on the holidays.
      
7. CHILD SUPPORT
   
7. Neither Michele M Malouin nor Scott M Malouin will be asked to pay child support.
   
9. The Parties agree that each will provide the other a copy of their income tax return and any notices of assessment and re-assessment issued, on an annual basis.
   
10. Scott M Malouin will claim the dependent tax exemption and minor children tax credits in respect of the children every year. For each year Michele M Malouin is not entitled to claim the dependent tax exemption, they will execute a release of their claim to the dependent tax exemption to Scott M Malouin upon the request of Scott M Malouin or at least 30 days before the tax filing deadline for that year, whichever occurs earlier.
    
11. Scott M Malouin will maintain health insurance, including medical and dental coverage, for the benefit of the children.
    
12. Subject to the laws of the State of North Carolina, child support payments, contributions to uninsured health care costs, child care costs, additional costs, and the maintenance of health insurance will continue as long as a child is under the age of majority and financially dependent on the parents.
    
13. PETS
    
13. The Parties have agreed to the following pet custody arrangements:
    Michele is welcome to take any or all the Cats at any time she is able.
    
14. SPOUSAL MAINTENANCE
    
14. This Agreement represents the final result of back and forth negotiation between the Parties as to the actual terms dealt with and content of those clauses. Each Party confirms that they understand the nature of this Agreement and the financial and legal consequences of signing this Agreement. Each Party had the opportunity to retain their own professional assistance to address any questions or concerns that they had as they negotiated this Agreement and before they executed this Agreement. Each Party confirms that they have provided any significant financial information and has not hidden or misrepresented any such financial information. Both Parties have kept any drafts and other documentation to substantiate such negotiation efforts.
    
15. Neither Party claims entitlement to spousal maintenance. Both Parties expressly waive any claim to spousal maintenance now and in the future, regardless of any change in circumstances experienced by either Party.
    
16. Each Party confirms that they are financially self-sufficient and accept full responsibility for their own financial support. Both Parties agree that based on the equitable property split under this Agreement, it is fair to waive any spousal maintenance. Each Party understands and acknowledges the consequence of electing to waive spousal maintenance includes no right to later seek spousal maintenance in the future even if their circumstances have significantly changed.
    
17. MATRIMONIAL HOME
    
17. The matrimonial home is located at: 4094 Lefevers Rd (the "Matrimonial Home") and is owned by the Parties.
    
18. The Parties agree that Scott M Malouin will refinance the Matrimonial Home removing Michele M Malouin from the loan and deed and give Michele M Malouin 50% of bank approved estimated value minus the loan value after it has been refinanced.
    
19. Scott M Malouin will reside in, and have temporary possession of the Matrimonial Home, until it is refinanced.
    
20. The expenses relating to the Matrimonial Home, including but not limited to mortgage payments, utility bills, property taxes, and repair costs, will be paid by Scott M Malouin.
    
21. ASSETS
    
21. The Parties acknowledge that they have agreed upon a division of all assets, owned or possessed by them as matrimonial property or separate property. The Parties are in possession of all of those assets to which each is respectively entitled. Accordingly, neither makes any claim to any assets in the possession of the other.
    
22. DEBTS
    
22. The Parties agree that any indebtedness secured against, or attributable to, any item of property that either Party is receiving under this Agreement will be the sole responsibility of the Party receiving the particular property.
    
23. Neither Party will incur any further debt or liability on the other Party's credit. Any debt accumulated as of the date of this Agreement is the debt of the individual Party, regardless if the debt was incurred as a result of joint credit.
    
24. EQUITABLE DISTRIBUTION RELEASE
    
24. The Parties covenant and agree that they are aware of the equitable distribution laws of the State of North Carolina and it is their intention that the equitable distribution laws will not apply to the status, ownership, interest and division of their property, either jointly or separately owned, nor to their future property, whether real or personal, and owned by either one or both of them, and the Parties further covenant and agree that it is their desire and intent by the terms of this Agreement to contract out of the equitable distribution laws of the State of North Carolina and to make a full and final settlement of all matters of property, both real and personal, previously and presently owned by either of the Parties or to be acquired by either of the Parties in the future.
    
25. DOWER, CURTESY AND HOMESTEAD RELEASE
    
25. Each Party releases all dower, curtesy and homestead rights under any statute of the State of North Carolina, or any other jurisdiction whatsoever, that, but for this agreement, each would have in and to property in the name of the other, or in their names jointly or as tenants in common.
    
26. ESTATE AND TESTAMENTARY DISPOSITION
    
26. The Parties renounce all rights each might have in or to the administration of the other’s estate whether under any law of the State of North Carolina, or any state of United States of America, or any country in which any part of the estate of the other may be situated and further waive and release the other from any and all rights of every kind, nature, and description that each may acquire as a spouse or a surviving spouse in the property, assets, or estate of the other.
    
27. PENSION RELEASE
    
27. Except as otherwise provided in this Agreement, the Parties waive and relinquish any and all rights or claims, in law or in equity, to apply to split or in any way share or claim any interest whatsoever, now or at any future time, in IRAs, 401(k) plans, or any defined contribution plan, defined benefits plan, retirement plan or pension, savings plan, or profit sharing plan of any type available through employment, or any benefits thereof, which the other Party presently has or may acquire in the future.
    
28. GENERAL RELEASE
    
28. Each Party releases all claims whatsoever and however arising, whether under the laws of the State of North Carolina or any other jurisdiction, including and without limiting the generality of the foregoing, whether arising by statute or at common law and including actions founded on constructive trust, resulting trust or unjust enrichment, which such Party may now or hereafter have or acquire or be entitled to against the property of the other Party, however and whenever acquired, including and without limiting the generality of the foregoing, real property, personal property, any income from such property or assets of the other Party and any increase in the value of such property, or against the estate of the other Party, but if any such action should be brought the provisions of this Agreement may be pleaded as an answer to any claim asserted and will constitute a full and complete defense thereto.
    
29. ADDITIONAL CLAUSES
    
29. The 2018 Blue Hyundai Sonata and the 2021 Can-Am Spyder will be Micheles. The 2007 Grey Hyundai Santa Fe and the 2020 Can-Am Spyder will be Scotts.
    
    The money in the savings account that's left over from paying off the Sonata and both bikes will be divided between both parties. Leaving Michele with the sum of $2153.16 in the joint account ending in *0814.  The money in each personal account will not be divided.
    
    Scott agrees to continue to pay for Michele's phone and phone plan, her Car insurance and Health Care plan until January 1st 2024 unless she decides to pay for them herself sooner. Scott does not agree to pay for any medical bills accumulated after the separation date of March 26th 2023.
    
30. GENERAL PROVISIONS
    
30. The Parties will promptly sign and give to the other all documents necessary to give effect to the terms of this Agreement.
    
31. This Agreement contains the entire agreement between the Parties about their relationship with each other. It replaces any earlier written or oral agreement between the Parties.
    
32. Should any portion of this Agreement be held by a court of law to be invalid, unenforceable, or void, such holding will not have the effect of invalidating or voiding the remainder of this Agreement, and the Parties agree that the portion so held to be invalid, unenforceable, or void, will be deemed amended, reduced in scope, or otherwise stricken only to the extent required for purposes of validity and enforcement in the jurisdiction of such holding.
    
33. The Parties may only amend this Agreement in writing signed by both of them after both Parties have obtained legal advice on the changes.
    
34. In the event that a dispute arises regarding this Agreement, the Parties will try to resolve the matter through negotiation or mediation, prior to initiating a court action.
    
35. Notwithstanding that the Parties acknowledge and agree that their circumstances at the execution of this Agreement may change for any reason, including but without limiting the generality of the foregoing, the passage of years, it is nonetheless their intention to be bound strictly by the terms of this Agreement at all times.
    
36. This Agreement creates a fiduciary relationship between the Parties in which each Party agrees to act with the utmost of good faith and fair dealing toward the other in all aspects of this Agreement.
    
37. The Parties agree to provide and execute such further documentation as may be reasonably required to give full force and effect to each term of this Agreement.
    
38. The headings of this Agreement form no part of it, and will be deemed to have been inserted for convenience only.
    
39. This Agreement will be binding upon and will enure to the benefit of the Parties, their respective heirs, executors, administrators, and assigns.
    
40. If the Parties reconcile, the terms of this Agreement will remain in effect unless the Parties revoke it in writing signed by both of them.
    
41. This Agreement may only be terminated or amended by the Parties in writing signed by both of them.
    
42. The laws of the State of North Carolina will govern the interpretation of this Agreement, and the status, ownership, and division of property between the Parties wherever either or both of them may from time to time reside.