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1. Parties: Identification of all contracting parties with full legal names and addresses
2. Background: Details of the original contract being terminated, including its date and purpose, and the parties' mutual desire to terminate
3. Definitions: Key terms used in the agreement, including 'Effective Date', 'Original Contract', and any specific terms relevant to the termination
4. Termination: Clear statement of the mutual agreement to terminate and the effective date of termination
5. Settlement of Accounts: Details of any final payments, reconciliations, or financial settlements between the parties
6. Return of Property: Obligations regarding the return of any property, documents, or materials
7. Mutual Release: Mutual release from obligations under the original contract, subject to any surviving provisions
8. Confidentiality: Confirmation that confidentiality obligations from the original agreement survive termination
9. Governing Law: Confirmation of German law as governing law and jurisdiction
10. Execution: Signature blocks and execution requirements complying with German law
1. Transition Arrangements: Used when there needs to be a handover period or specific transition activities
2. Intellectual Property Rights: Include when IP rights need to be addressed post-termination
3. Non-Competition: Used when parties wish to maintain non-compete provisions post-termination
4. Insurance and Indemnities: Include when ongoing insurance obligations or indemnities need to be addressed
5. Employee Matters: Required when the termination affects employment relationships or staff transfers
6. Data Protection: Include when personal data processing needs to be addressed post-termination
7. Public Announcements: Used when parties need to agree on how to communicate the termination externally
1. Schedule 1 - Original Contract: Copy or details of the contract being terminated
2. Schedule 2 - Settlement Statement: Detailed breakdown of any financial settlements or payments
3. Schedule 3 - Handover Plan: Timeline and responsibilities for any transition activities
4. Schedule 4 - Property Register: List of items to be returned or transferred between parties
5. Appendix A - Required Notices: Templates for any required notices or communications
6. Appendix B - Confirmation of Completion: Form for confirming completion of termination obligations
Original Contract
Effective Date
Termination Date
Parties
Settlement Amount
Confidential Information
Intellectual Property Rights
Outstanding Obligations
Transition Period
Settlement Statement
Company Property
Representatives
Business Day
Force Majeure Events
Handover Plan
Related Entities
Surviving Provisions
Claims
Mutual Release
Mutual Release
Settlement
Return of Property
Confidentiality
Non-Compete
Final Payment
Surviving Obligations
Dispute Resolution
Governing Law
Further Assurance
Severability
Entire Agreement
Notices
Data Protection
Assignment
Third Party Rights
Warranties
Force Majeure
Transition Arrangements
Technology
Manufacturing
Professional Services
Retail
Financial Services
Healthcare
Construction
Education
Telecommunications
Transportation and Logistics
Real Estate
Energy
Media and Entertainment
Legal
Human Resources
Procurement
Finance
Operations
Commercial
Business Development
Compliance
Risk Management
Sales
Executive Leadership
Legal Counsel
Contract Manager
HR Director
Business Development Manager
Commercial Director
Procurement Manager
Chief Executive Officer
Chief Financial Officer
Operations Manager
Project Manager
Account Manager
Sales Director
General Manager
Compliance Officer
Risk Manager
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