2006 New York Code - Release Or Covenant Not To Sue.

 
    § 15-108. Release  or covenant not to sue. (a) Effect of release of or
  covenant not to sue tortfeasors.  When a release or a  covenant  not  to
  sue  or not to enforce a judgment is given to one of two or more persons
  liable or claimed to be liable in tort for the same injury, or the  same
  wrongful  death, it does not discharge any of the other tortfeasors from
  liability for the injury or wrongful death unless its terms expressly so
  provide, but it reduces the claim of  the  releasor  against  the  other
  tortfeasors to the extent of any amount stipulated by the release or the
  covenant,  or  in the amount of the consideration paid for it, or in the
  amount of the released tortfeasor's equitable share of the damages under
  article fourteen of the civil practice law and rules, whichever  is  the
  greatest.
    (b)  Release  of  tortfeasor.  A  release  given  in good faith by the
  injured person to one tortfeasor as provided in subdivision (a) relieves
  him from liability to any other person for contribution as  provided  in
  article fourteen of the civil practice law and rules.
    (c)  Waiver  of  contribution.  A  tortfeasor who has obtained his own
  release from liability shall not be entitled to  contribution  from  any
  other person.