David Chestnut, President of the Erskine alumni association and Nan Campbell, the President Elect jointly released the following statement on the afternoon of Friday, September 17

We are pleased to inform you that all parties have agreed to settlement terms in our legal action. Attorneys of record have received all necessary signatures and are working to file required legal documents. We believe this settlement agreement accomplished as much we could have hoped to achieve in court. With this agreement and the recognition of Erskine’s existing trustees by all parties, Erskine and the Board can confidently move forward to review governance and conduct all other business of guiding the College and Seminary. Thank you all for your prayers, your dedication, and your continued love for Erskine. We look forward to a successful year ahead.

The Aquila Report has obtained a copy of the full settlement agreement and it follows in its entirety.

SETTLEMENT AGREEMENT

WHEREAS, certain disputes have arisen between Dr. Richard Taylor, Dr. Parker Young, J. David Chesnut and the Erskine Alumni Association (the “Plaintiffs”) on the one hand and General Synod of the Associate Reformed Presbyterian Church (the “General Synod”) on the other hand (collectively the “Parties”); and

WHEREAS, those disputes are embodied in a lawsuit styled Dr. Richard Taylor, Dr. Parker Young, J. David Chesnut, and the Erskine Alumni Association v. General Synod of the Associate Reformed Presbyterian Church, C.A. No. 2010-CP-01-080, instituted in the South Carolina Court of Common Pleas for Abbeville County (the “Action”); and

WHEREAS, a similar action was previously filed against the General Synod in the name of Erskine (the “Erskine Action”), which was voluntarily dismissed; and

WHEREAS, certain individuals (the “Intervenors”) filed a motion seeking to intervene in the Erskine Action; and

WHEREAS, the General Synod has appealed (the “Appeal”) the entry of a preliminary injunction in the Action; and

WHEREAS, the Parties now wish to resolve the legal claims between them as set forth herein; to settle and dismiss the Action with prejudice, to dismiss the Appeal; and to express their joint hope that all persons concerned with the welfare of Erskine and the ARP Church will govern themselves accordingly;

NOW THEREFORE, FOR AND IN CONSIDERATION of the mutual promises of the Parties to this Settlement Agreement (the “Agreement”), the receipt and sufficiency of which are hereby acknowledged, the Parties hereto agree, as of the _____ day of September, 2010, as follows:

1. The Parties acknowledge and agree that the document attached hereto as Exhibit A is a true and correct copy of the current Bylaws of Erskine.

2. The Parties acknowledge and agree that for purposes of this Agreement, the “Existing Board” shall be defined as the Board of Trustees of Erskine as it existed on March 1, 2010, taking into account any changes in composition that have occurred or may occur in accordance with the Bylaws of Erskine.

3. The General Synod retracts the General Synod’s adoption on March 3, 2010 of the Moderator’s Commission’s Recommendation #2 which stated that the “current trustees shall be removed and replaced by” an interim board and acknowledges and agrees that the Existing Board is the legal, duly constituted, and legitimate Board of Trustees of Erskine College and Seminary (“Erskine”).

4. Upon execution of this Agreement, the Parties agree to file a stipulation of dismissal with prejudice pursuant to Rule 41(a) of the South Carolina Rules of Civil procedure and take any other action necessary to cause the dismissal of the Action with prejudice. It is understood and agreed between the Parties that any subsequent legal action based on a dispute arising from any new attempt by the General Synod to remove one or more Trustees of Erskine would not be precluded by the dismissal of this Action with prejudice. Upon such dismissal, the Parties will ask the Court for entry of an order stating that the preliminary injunction entered against the General Synod, and other parties enumerated therein, shall be lifted and shall be of no further force and effect, and that the security deposit made by Plaintiffs shall be returned to them in full by the Clerk of Court.

5. The Parties will notify the South Carolina Court of Appeals of such dismissal, and shall take any steps necessary to terminate the Appeal.

6. Each party will bear its own costs, fees, and expenses.

7. Each party is represented by counsel and has had the opportunity to consult with counsel prior to entering into this Agreement. Accordingly, this Agreement shall not be construed more favorably to one party than to another.

8. This Agreement does not constitute an admission of any wrongdoing by any party but is a Release of all existing potential legal claims, whether known or unknown, entered solely for the purpose of resolving any civil legal disputes that might exist between the Parties.

9. The individual signing on behalf of the General Synod hereby represents and warrants that he has legal authority to enter into this Agreement and to bind the General Synod.

10. This Agreement contains the entire agreement of the Parties relating to the subject matter hereof, and the Parties have made no agreements, representations, or warranties relating to the subject matter of this Agreement which are not set forth herein. No amendment or modification of this Agreement shall be valid unless made in writing and signed by the Parties hereto.

11. This Agreement shall be construed and interpreted in accordance with the laws of the State of South Carolina, without regard to choice of law principles.

12. This Agreement may be executed in multiple counterparts, each of which shall be deemed to be an original, but all of which together shall constitute a single instrument. Facsimile or electronic transmissions of copies of signature pages are acceptable and deemed original signatures.