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Enter the full legal name of this party exactly as it appears on their ID or business registration.
Enter the full legal name of this party exactly as it appears on their ID or business registration.
A Mutual Agreement to Terminate Contract is the binding document by which two parties agree to end an existing contract before its natural expiration date, discharge all remaining obligations, and release each other from future performance. More than a simple notice of termination — it resolves disputes about mid-stream deliverables, partial payments owed, retained deposits, return of materials, and confidentiality obligations. Use this when both parties want a clean break that cannot later be disputed. Fill out this free mutual agreement to terminate contract template online, e-sign it digitally, and download a legally valid PDF. no account or lawyer needed. Sections: Parties, Termination Terms.
This Mutual Agreement to Terminate Contract (this "Termination Agreement") is entered into as of ______________ by and between ______________, located at ______________ ("Party A"), and ______________, located at ______________ ("Party B") (collectively, the "Parties").
WHEREAS, the Parties entered into a contract dated ______________, relating to ______________ (the "Original Contract"); and
WHEREAS, the Parties desire to mutually terminate the Original Contract effective as of the date set forth herein, on the terms and conditions set forth in this Termination Agreement;
NOW, THEREFORE, in consideration of the mutual promises and covenants herein, the Parties agree as follows:
The Original Contract is hereby terminated effective ______________ (the "Termination Date"). From and after the Termination Date, no party shall have any further obligation to perform under the Original Contract, except as expressly set forth in this Termination Agreement.
The Parties agree that no additional payments are owed by either Party. All amounts previously paid shall be retained by the receiving party, and no refunds are required.
Each Party shall promptly return to the other any property, materials, equipment, login credentials, or confidential information belonging to the other Party that is in its possession. Such return shall occur within ten (10) business days of the Termination Date.
Effective as of the Termination Date, each Party, on behalf of itself and its successors and assigns, hereby releases and forever discharges the other Party and its officers, directors, employees, agents, successors, and assigns from any and all claims, demands, and causes of action, known or unknown, arising out of or related to the Original Contract or the parties' performance thereunder through the Termination Date, except for obligations expressly set forth in this Termination Agreement.
The following provisions of the Original Contract shall survive termination and remain in full force and effect: All confidentiality, non-solicitation, intellectual property, and indemnification provisions shall survive termination in accordance with their respective terms. In addition, any accrued but unpaid payment obligations and any claims for breach occurring prior to the Termination Date shall survive.
The execution of this Termination Agreement does not constitute an admission of breach, default, fault, or liability by either Party under the Original Contract.
This Termination Agreement constitutes the entire agreement between the Parties with respect to the termination of the Original Contract and supersedes all prior discussions and understandings relating thereto. This Termination Agreement may not be modified except in writing signed by both Parties.
This Agreement shall be governed by and construed in accordance with the laws of the State of ______________, without regard to its conflict-of-laws principles.