• videocam Live Webinar with Live Q&A
  • calendar_month June 16, 2026 @ 1:00 PM ET/10:00 AM PT
  • signal_cellular_alt Intermediate
  • card_travel Commercial Law
  • schedule 90 minutes

M&A Agreements: Limitations on Contractual and Extra-Contractual Liabilities

Crafting Exclusive Remedy, Extra-Contractual Representation Waiver, and Other Risk Mitigation Provisions

About the Course

Introduction

This CLE course will prepare M&A deal counsel to draft contracts to protect sellers from post-closing liability. The panel will discuss how courts have analyzed different limitation of liability provisions and how they impact buyers and sellers.

Description

Effective limitation of liability clauses in M&A agreements thwart dissatisfied parties who may attempt to evade the contractual limits. In today's economic environment, such parties have a greater incentive than before to pursue such evasion and perhaps more potential opportunities to do so. Such parties may assert allegations of fraud or misrepresentation and/or claim inaccuracies of pre-contractual representations and contractual warranties.

For seller's counsel, the goal is to limit all potential claims of breaches of the representations and warranties set forth only in the four corners of the agreement. Deal counsel must craft contract language to maximize the likelihood of enforcement of the exclusive remedy provisions in the contract, minimizing risk to the seller of contractual and extra-contractual post-closing liability in M&As.

Listen as our authoritative panel of M&A attorneys prepares counsel to craft contracts that limit contractual and extra-contractual liabilities, focusing on sources of existing and potential new extra-contractual liabilities, ways to protect parties through due diligence, voluntary disclosure and discussion, pricing, holdback/"basket" structuring, auction and negotiating processes, and exclusive remedy and extra-contractual representation disclaimer and waiver provisions.


Presented By

Jacqueline A. Brooks
Partner
Duane Morris LLP

Ms. Brooks concentrates her practice in general business and commercial law. She counsels clients in mergers and acquisitions, purchases and sales of businesses, commercial finance, private offerings of debt and equity securities, and life science transactions, and shareholder derivative matters, including shareholder demand responses and special committee issues. Ms. Brooks has experience representing public companies, privately owned and managed companies, nonprofit organizations and start-up companies and provides general counsel to these organizations regarding corporate matters. Prior to joining Saul Ewing Arnstein & Lehr, she participated in Washington University School of Law's D.C. Clinic, through which she was an intern to the United States House Judiciary Committee. In this capacity, she drafted legal memoranda to assist Congressman John Conyers, Jr. and the Congressman's legislative assistants at Judiciary Committee hearings and briefings.

Jay Coogan
Partner
Pierson Ferdinand

Mr. Coogan advises publicly held and private companies and private equity and other investment firms in mergers and acquisitions and securities offerings. He also advises boards of directors and board committees in M&As and other corporate governance matters. Mr. Coogan’s clients invest in and operate companies across a wide variety of industries, including technology, healthcare, business services, energy and consumer products. His experience includes helping private equity firms build out their portfolios with acquisitions, grow their portfolio companies, and successfully execute exits; representing venture capital firms, as well as startups and emerging businesses seeking growth and funding; advising investment banks and issuers in securities offerings; serving as outside general counsel to a variety of enterprises, advising boards, management and controlling stockholders on matters including litigation management, compliance investigations, IP management, human resources issues and strategic planning; helping long-established family businesses and their controlling families through transition and sale situations; and supporting family offices and closely-held investment companies in capital raising and restructuring matters.




Credit Information
  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.


  • Live Online


    On Demand

Date + Time

  • event

    Tuesday, June 16, 2026

  • schedule

    1:00 PM ET/10:00 AM PT

I. Sources of extra-contractual liability: traditional and potential new ones; innovative uses of force majeure and MAC provisions

II. Protecting parties through due diligence, disclosure, pricing/breakup and other fees, auction, and negotiation process

III. Protecting parties through exclusive remedy and extra-contractual representation waiver provisions

IV. Lessons from recent case (and statutory/regulatory) law

The panel will review these and other critical questions:

  • What are best practices for drafting, negotiating, due diligence, and pricing strategies for limiting contractual and extra-contractual liabilities when drafting M&A agreements?
  • How have the courts analyzed exclusive remedy and extra-contractual representation and waiver provisions in M&A contracts?
  • How can parties achieve protection from extra-contractual liabilities during the negotiation process?