N.Y. Gen. Oblig. Law § 15-108

§ 15-108. Release or covenant not to sue. (a) Effect of release of or\ncovenant not to sue tortfeasors. When a release or a covenant not to sue\nor not to enforce a judgment is given to one of two or more persons\nliable or claimed to be liable in tort for the same injury, or the same\nwrongful death, it does not discharge any of the other tortfeasors from\nliability for the injury or wrongful death unless its terms expressly so\nprovide, but it reduces the claim of the releasor against the other\ntortfeasors to the extent of any amount stipulated by the release or the\ncovenant, or in the amount of the consideration paid for it, or in the\namount of the released tortfeasor's equitable share of the damages under\narticle fourteen of the civil practice law and rules, whichever is the\ngreatest.\n (b) Release of tortfeasor. A release given in good faith by the\ninjured person to one tortfeasor as provided in subdivision (a) relieves\nhim from liability to any other person for contribution as provided in\narticle fourteen of the civil practice law and rules.\n (c) Waiver of contribution. A tortfeasor who has obtained his own\nrelease from liability shall not be entitled to contribution from any\nother person.\n (d) Releases and covenants within the scope of this section. A release\nor a covenant not to sue between a plaintiff or claimant and a person\nwho is liable or claimed to be liable in tort shall be deemed a release\nor covenant for the purposes of this section only if:\n (1) the plaintiff or claimant receives, as part of the agreement,\nmonetary consideration greater than one dollar;\n (2) the release or covenant completely or substantially terminates the\ndispute between the plaintiff or claimant and the person who was claimed\nto be liable; and\n (3) such release or covenant is provided prior to entry of judgment.\n