The lawsuit between trainer John Kimmel and owner Robert Waxman has been dropped and the two have agreed to settle the matter out of court, Waxman said on Friday.

Kimmel had filed suit against Waxman earlier this month in Fayette County, Kentucky, Circuit Court seeking more than $160,000 along with an undetermined amount from sales commissions of more than $6-million in horses Waxman sold in a November dispersal.

"The suit has been pulled," Waxman said on Friday. "John and I have agreed to settle our differences without a lawsuit and remain friends. We basically settled everything and decided friendship was more important than a lawsuit."

Waxman did not disclose the terms of the settlement and said they probably have not been "finalized."

Kimmel had sought roughly $164,171 from past boarding and training bills and from a sales commission owed from Kimmel's purchase of a $1.45-million Deputy Minister filly for Waxman at the 1999 Keeneland September yearling sale.

The lawsuit said $72,500 of the total came from a 5% sales commission for the filly, who is currently in the care of trainer Todd Pletcher. The remaining $91,671 was for boarding and training bills through the end of November 1999.

The suit stated that Kimmel was not paid a "reasonable commission" due him following the Waxman dispersal at the 1999 Fasig-Tipton Kentucky November selected sale, an amount that was undetermined prior to the sale. Waxman sold 16 horses during the dispersal for a total of $6,120,500.—Tom Law