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<br />On or about April 15, 1992, Gonzales filed Civil Action <br />No. 92-B-725 (now 92-5-725) in the United State District Court <br />for the District of Colorado (the "District Court Case") against <br />The Colorado & Wyoming Railway Company ("C&W") seeking damages <br />incurred under the provision of the Federal Employers' Liability <br />Act, 45 U.S.C. § 51, et se~C. <br />Gonzales, a laborer, alleges that he suffered back <br />injuries while employed by C&W on or about October 9, 1991. <br />Shortly after October 9, 1991, he underwent back surgery. At the <br />time Gonzales alleges that he was injured, he was 46 years old. <br />Gonzales has not worked since his alleged back injury. An <br />economist hired by Gonzales computed the total amount of future <br />earnings lost to be $429,000.00 and lost earnings in the past to <br />be $18,000.00. Reportedly, Gonzales' recovery from surgery has <br />not been complete, and Gonzales now walks with the aid of a cane. <br />CfiW and Gonzales have agreed to settle the dispute set <br />out in the District Court Case. C&w has considered the legal and <br />factual issues stemming from the District Court Case, and in <br />order to avoid the time, expense and uncertainties of litigation <br />has agreed to enter into a settlement agreement with Gonzales. <br />C&W has agreed to make a settlement payment to Gonzales of <br />$267,500 (the "Settlement Amount"). C&W's insurance carrier will <br />pay $17,500 of the Settlement Amount, which sum is equal to the <br />amount of the Settlement Amount in excess of $250,000. Gonzales <br />-2- <br />