A binding contract is a legally enforceable agreement between two or more parties. It means that all parties involved are obligated to fulfill their promises and follow the terms and conditions stated in the contract. Full definition
A settlement agreement is a legally binding contract between employers and employees (or former employees) to settle claims and potential claims on agreed terms. (aaronandpartners.com)
Although the company has created binding contracts to prevent it from selling large chunks of their holdings, flooding the market and causing the price to crash, some investors are still concerned. (gobankingrates.com)