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1. Parties: Identification of all parties to the cancellation agreement, which should match the parties in the original contract
2. Background: Details of the original contract being cancelled, including its date, purpose, and reason for cancellation
3. Definitions: Key terms used in the agreement, including reference to defined terms from the original contract where relevant
4. Termination Date: Specific date when the original contract will be terminated and this agreement takes effect
5. Mutual Agreement to Terminate: Express statement of parties' agreement to terminate the original contract
6. Settlement of Outstanding Obligations: Details of how any outstanding payments, deliverables, or obligations will be handled
7. Return of Property: Requirements for returning any physical or digital assets, documents, or confidential information
8. Mutual Release: Release of claims and liabilities between parties related to the original contract
9. Surviving Provisions: Identification of any provisions from the original contract that will survive termination
10. Governing Law: Confirmation that Dutch law governs the cancellation agreement
11. Signatures: Execution blocks for all parties
1. Transition Arrangements: Required when there needs to be a handover period or transition of services/responsibilities
2. Non-Compete and Non-Solicitation: Include when parties wish to maintain or establish new restrictions on competition or employee solicitation
3. Confidentiality: Include when new confidentiality obligations need to be established beyond those surviving from the original agreement
4. Tax Provisions: Required when the termination involves significant financial settlements with tax implications
5. Third Party Rights: Include when the termination affects rights of third parties or requires third party consents
6. Public Announcements: Include for high-profile contracts where public communication of the termination needs to be coordinated
7. Dispute Resolution: Include when parties want to specify a particular dispute resolution mechanism for issues arising from the termination
1. Schedule of Outstanding Payments: Detailed list of all financial settlements, including amounts, payment dates, and payment methods
2. Asset Register: Inventory of all physical or digital assets to be returned or transferred between parties
3. Intellectual Property Rights: List of any IP rights being transferred, retained, or licensed as part of the termination
4. Completion Checklist: List of all actions required to be taken by each party to complete the termination process
5. Original Contract: Copy of the original contract being terminated, attached for reference
6. Third Party Consents: Copies of any required third party consents or notifications related to the termination
Original Contract
Effective Date
Termination Date
Parties
Outstanding Obligations
Settlement Amount
Confidential Information
Intellectual Property Rights
Released Claims
Surviving Provisions
Settlement Period
Completion Date
Transition Period
Related Agreements
Business Day
Force Majeure Event
Governing Law
Representatives
Affiliate
Dispute
Material Breach
Completion Obligations
Return Materials
Settlement Payment
Termination Notice
Liability
Dutch Civil Code
Working Day
Mutual Release
Settlement
Payment
Return of Property
Confidentiality
Non-Compete
Non-Solicitation
Intellectual Property
Surviving Provisions
Transition
Cooperation
Warranties
Representations
Liability
Indemnification
Governing Law
Dispute Resolution
Notices
Assignment
Amendment
Severability
Entire Agreement
Third Party Rights
Force Majeure
Public Announcements
Data Protection
Tax
Costs
Further Assurance
Technology
Manufacturing
Professional Services
Financial Services
Healthcare
Retail
Construction
Energy
Telecommunications
Real Estate
Logistics
Software
Consulting
Media and Entertainment
Education
Legal
Procurement
Commercial
Operations
Finance
Compliance
Risk Management
Business Development
Contract Administration
Corporate Affairs
Legal Counsel
Contract Manager
Procurement Manager
Commercial Director
Chief Executive Officer
Chief Legal Officer
Business Development Manager
Account Manager
Operations Director
Risk Manager
Compliance Officer
General Counsel
Project Manager
Relationship Manager
Chief Financial Officer
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