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1. Parties: Identification of all parties to the termination agreement, including their full legal names, addresses, and registration details if companies
2. Background: Details of the original contract being terminated, including its date, purpose, and key terms
3. Definitions: Definitions of key terms used in the agreement, including the 'Original Contract', 'Termination Date', and other relevant terms
4. Termination: Clear statement of the termination, its effective date, and the mutual agreement of all parties
5. Settlement of Accounts: Details of any final payments, reconciliation of accounts, or financial settlements between the parties
6. Mutual Release: Mutual release of claims and obligations under the original contract, subject to any surviving provisions
7. Return of Property: Obligations regarding the return of any physical or intellectual property, documents, or materials
8. Confidentiality: Ongoing obligations regarding confidential information and trade secrets
9. Governing Law and Jurisdiction: Confirmation of Pakistani law as governing law and jurisdiction for disputes
10. Execution: Formal execution requirements including witness statements and attestation as required under Pakistani law
1. Surviving Provisions: Used when certain provisions of the original contract need to survive termination, such as confidentiality or non-compete clauses
2. Transition Arrangements: Required when there needs to be a handover period or transition of services/goods
3. Islamic Finance Compliance: Required for contracts involving Islamic financial institutions or Shariah-compliant arrangements
4. Tax Matters: Include when there are specific tax implications or requirements that need to be addressed
5. Dispute Resolution: Optional detailed dispute resolution procedures, including mediation or arbitration provisions
6. Non-Compete and Non-Solicitation: Include when parties wish to maintain restrictions on competition or employee solicitation post-termination
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, including payments made and outstanding
3. Schedule 3 - Property Register: List of all physical and intellectual property to be returned or transferred
4. Schedule 4 - Completion Checklist: List of actions required to complete the termination process
5. Schedule 5 - Surviving Obligations: Detailed list of any obligations that survive the termination
6. Appendix A - Required Notices: Copies of any required notices or correspondence related to the termination
Original Contract
Effective Date
Termination Date
Parties
Confidential Information
Business Day
Force Majeure Events
Intellectual Property Rights
Outstanding Payments
Relevant Authority
Settlement Amount
Surviving Provisions
Company Property
Dispute
Governing Law
Liabilities
Related Parties
Representatives
Territory
Working Hours
Affiliate
Claims
Completion Obligations
Transition Period
Mutual Release
Encumbrance
Material Breach
Notices
Termination
Mutual Release
Settlement
Return of Property
Confidentiality
Non-Compete
Non-Solicitation
Payment Obligations
Transition Arrangements
Intellectual Property
Surviving Provisions
Further Assurance
Notices
Severability
Entire Agreement
Amendment
Assignment
Force Majeure
Governing Law
Dispute Resolution
Costs
Waiver
Third Party Rights
Authority
Counterparts
Manufacturing
Information Technology
Construction
Financial Services
Retail
Healthcare
Education
Telecommunications
Real Estate
Energy
Agriculture
Professional Services
Transportation
Hospitality
Mining
Legal
Compliance
Finance
Procurement
Operations
Risk Management
Commercial
Business Development
Corporate Secretariat
Executive Leadership
Contract Administration
Legal Counsel
Contract Manager
Chief Legal Officer
Business Development Manager
Chief Executive Officer
Chief Financial Officer
Project Manager
Procurement Manager
Company Secretary
Risk Manager
Compliance Officer
Operations Director
Commercial Director
General Manager
Finance Manager
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