Mutual Contract Termination Agreement Template for Philippines

1. Non-Disparagement: Optional clause preventing parties from making negative statements about each other, particularly relevant for high-profile commercial relationships

2. Confidentiality: Optional section detailing ongoing confidentiality obligations, particularly important if not covered in surviving provisions

3. Tax Provisions: Optional section addressing tax implications of the termination, particularly relevant if there are significant financial settlements

4. Dispute Resolution: Optional detailed alternative dispute resolution procedures, recommended for complex commercial relationships

5. Further Assurance: Optional clause requiring parties to execute additional documents if needed, useful for complex terminations

6. Public Announcements: Optional section controlling how the termination may be communicated to the public, relevant for business-to-business relationships or public companies

1. Schedule 1 - Original Contract: Copy or details of the original contract being terminated

2. Schedule 2 - Settlement Statement: Detailed breakdown of any financial settlements, payments, or transfers required

3. Schedule 3 - Property Schedule: List of any physical or intellectual property to be returned or transferred

4. Schedule 4 - Completion Checklist: List of actions required by each party to complete the termination process