Ending contracts and business relationships with mutual consent and final terms.
TERMINATION AGREEMENT
This Termination Agreement is made on [DATE] between [PARTY 1 NAME] and [PARTY 2 NAME] to terminate the [ORIGINAL CONTRACT TYPE] dated [ORIGINAL DATE].
1. TERMINATION
The parties agree to terminate the [CONTRACT TITLE] dated [ORIGINAL DATE] effective [TERMINATION DATE].
2. FINAL OBLIGATIONS
Prior to termination: [PARTY 1] shall [FINAL OBLIGATIONS]. [PARTY 2] shall [FINAL OBLIGATIONS].
3. FINAL PAYMENTS
Final payment obligations: [PAYMENT DETAILS]. All outstanding invoices shall be paid within [PAYMENT PERIOD] days.
4. RETURN OF PROPERTY
Each party shall return all property, documents, and confidential information belonging to the other party by [RETURN DATE].
5. RELEASE
Upon completion of final obligations, parties release each other from all claims arising under the terminated agreement.
6. SURVIVAL
The following provisions survive termination: [SURVIVING PROVISIONS] including confidentiality, intellectual property, and limitation of liability.
PARTY 1: _________________ PARTY 2: _________________
[PARTY 1 NAME] [PARTY 2 NAME]
Date: ___________ Date: ___________
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A Termination Agreement formally ends contracts and business relationships, establishing final obligations, payments, and release of claims.