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Deed Of Termination And Release
"I need a Deed of Termination and Release to end a software development agreement with TechCorp Sdn Bhd, effective March 1, 2025, with provisions for the handover of source code and a three-month transition period."
1. Parties: Details of all parties to the deed, including their full legal names, registration numbers (if companies), and registered addresses
2. Background: Recitals explaining the original agreement being terminated, its date, and the context for termination
3. Definitions: Definitions of key terms used in the deed, including reference to the original agreement and any related documents
4. Termination: Clear statement of termination of the original agreement and the effective date
5. Mutual Release: Provisions for mutual release of claims, liabilities, and obligations between the parties
6. Return of Property: Obligations regarding the return of any property, documents, or confidential information
7. Payment and Settlement: Details of any final payments, settlements, or financial arrangements
8. Surviving Obligations: Identification of any provisions from the original agreement that will survive termination
9. Further Assurance: Commitment by parties to execute further documents if needed to give effect to the deed
10. Governing Law: Confirmation that the deed is governed by Malaysian law
11. Execution: Formal execution blocks meeting Malaysian requirements for deeds
1. Confidentiality: Additional confidentiality provisions if not covered by surviving obligations or requiring special emphasis
2. Non-Disparagement: Include when parties wish to prevent negative statements about each other post-termination
3. Transition Arrangements: Required when there needs to be a handover period or specific transition provisions
4. Third Party Rights: Include when the termination affects rights of third parties or when third party rights need to be explicitly excluded
5. Tax Provisions: Include when there are specific tax implications that need to be addressed
6. Dispute Resolution: Include when parties want specific dispute resolution procedures for matters arising from the termination
1. Schedule 1 - Original Agreement: Copy or details of the agreement being terminated
2. Schedule 2 - Settlement Terms: Detailed breakdown of any financial settlements or payment terms
3. Schedule 3 - Outstanding Obligations: List of any outstanding obligations and how they will be dealt with
4. Schedule 4 - Transition Plan: Detailed timeline and responsibilities for any transition arrangements
5. Schedule 5 - Property Register: List of property, documents, or materials to be returned by each party
Authors
Termination
Mutual Release
Waiver
Settlement
Return of Property
Confidentiality
Non-Disparagement
Further Assurance
Surviving Provisions
Payment Obligations
Transition Arrangements
Third Party Rights
Entire Agreement
Severability
Costs
Notices
Governing Law
Dispute Resolution
Execution
Banking & Financial Services
Real Estate & Property
Manufacturing
Technology & Software
Construction
Energy & Resources
Telecommunications
Professional Services
Retail & Consumer
Healthcare
Education
Transportation & Logistics
Hospitality & Tourism
Agriculture
Legal
Compliance
Commercial
Operations
Finance
Risk Management
Corporate Secretarial
Business Development
Procurement
Executive Management
Legal Counsel
Contract Manager
Commercial Director
Chief Legal Officer
Business Development Manager
Project Manager
Company Secretary
Risk Manager
Compliance Officer
Operations Director
Chief Executive Officer
Chief Financial Officer
Procurement Manager
General Manager
Managing Director
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