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1. Parties: Identification of all parties to the original contract and termination agreement
2. Background: Brief description of the original contract and circumstances leading to termination
3. Definitions: Definitions of key terms used in the termination agreement
4. Termination Date: Specific date when the original contract will terminate
5. Mutual Agreement to Terminate: Express statement of parties' agreement to terminate the original contract
6. Outstanding Obligations: Statement of any remaining obligations and how they will be handled
7. Final Payments: Details of any final payments or financial settlements required
8. Release and Waiver: Mutual release from future claims related to the original contract
9. Confidentiality: Ongoing obligations regarding confidential information
10. Return of Property: Requirements for returning any physical or intellectual property
11. Governing Law: Confirmation of Nigerian law as governing law
12. Execution: Signature blocks and execution requirements
1. Survival Clauses: Identifies which provisions of the original contract survive termination
2. Transition Arrangements: Details of any transitional period or handover requirements
3. Third Party Rights: Addresses impact on any third party beneficiaries
4. Tax Implications: Handling of any tax consequences of the termination
5. Dispute Resolution: Specific procedures for resolving any disputes arising from the termination
6. Public Announcements: Requirements for any public statements about the termination
7. Non-Compete/Non-Solicitation: Continued applicability of any restrictive covenants
8. Insurance: Handling of insurance-related matters post-termination
1. Schedule 1 - Original Contract: Copy or details of the contract being terminated
2. Schedule 2 - Outstanding Payments: Detailed list of all outstanding payments and settlements
3. Schedule 3 - Property Inventory: List of physical or intellectual property to be returned
4. Schedule 4 - Completion Checklist: List of actions required to complete the termination process
5. Schedule 5 - Settlement Terms: Detailed terms of any settlement agreements
6. Appendix A - Board Resolutions: Corporate authorizations for the termination (if applicable)
7. Appendix B - Powers of Attorney: Relevant authorization documents (if applicable)
Original Contract
Effective Date
Termination Date
Parties
Outstanding Obligations
Confidential Information
Claims
Release
Business Day
Governing Law
Intellectual Property Rights
Company Property
Representatives
Surviving Provisions
Settlement Amount
Completion Date
Force Majeure Event
Material Adverse Effect
Permitted Purpose
Related Entities
Dispute
Working Hours
Affiliate
Authorities
Encumbrance
Liability
Loss
Notice
Person
Mutual Release
Payment and Settlement
Confidentiality
Return of Property
Representations and Warranties
Indemnification
Survival
Governing Law
Dispute Resolution
Force Majeure
Notice
Assignment
Severability
Entire Agreement
Amendment
Waiver
Further Assurance
Costs
Counterparts
Third Party Rights
Time of Essence
Authority
No Partnership
Announcements
Data Protection
Non-Compete
Non-Solicitation
Compliance with Laws
Language
Oil and Gas
Manufacturing
Financial Services
Technology
Construction
Real Estate
Telecommunications
Agriculture
Mining
Retail
Healthcare
Education
Professional Services
Transportation
Energy
Legal
Finance
Procurement
Operations
Compliance
Risk Management
Commercial
Business Development
Project Management
Corporate Secretariat
Executive Leadership
Contract Administration
Chief Executive Officer
Managing Director
Legal Counsel
Contract Manager
Chief Financial Officer
Commercial Director
Project Manager
Business Development Manager
Procurement Manager
Operations Director
Risk Manager
Compliance Officer
Company Secretary
General Counsel
Finance Manager
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