A. If, at the time of the award of compensation pursuant to § 8.01-195.11, the person wrongfully incarcerated has previously won a monetary award against the Commonwealth or any political subdivision thereof in a civil action arising out of the factual situation in connection with the conviction for which the compensation was awarded, or has entered into a settlement agreement with the Commonwealth or any political subdivision thereof arising out of such situation, the amount of the award in such action or such settlement agreement, less any sums paid to attorneys or for costs in litigating such other civil action or obtaining such settlement agreement, shall be deducted from the sum of money to which the person wrongfully incarcerated is entitled pursuant to § 8.01-195.11.
B. As a condition of receiving any compensation under this article, a person shall execute a release and waiver forever releasing (i) the Commonwealth or any agency, instrumentality, officer, employee, or political subdivision thereof, (ii) any legal counsel appointed pursuant to § 19.2-159, and (iii) all other parties of interest, from any present or future claims the person receiving compensation may have against such enumerated parties and arising out of the factual situation in connection with the conviction for which compensation is being sought under this article.