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Contract Termination By Agreement
"I need a Contract Termination By Agreement to end a software development agreement with our vendor in Singapore, ensuring all source code is transferred to us and including provisions for a 3-month handover period starting March 2025."
1. Parties: Identification of contracting parties and their details
2. Background: Context of original agreement and reasons for termination
3. Definitions: Key terms used in the termination agreement
4. Termination Date: Effective date of contract termination
5. Mutual Release: Release of parties from obligations under original agreement
6. Settlement of Outstanding Obligations: Agreement on handling any pending payments or duties
1. Confidentiality: Provisions for maintaining confidentiality of sensitive information post-termination
2. Non-Compete/Non-Solicitation: Survival of restrictive covenants from the original agreement
3. Return of Property: Process and timeline for returning physical or intellectual property
4. Insurance and Indemnity: Ongoing insurance obligations and indemnification provisions
1. Schedule of Outstanding Payments: Detailed list of any remaining financial obligations between parties
2. Schedule of Property to be Returned: Inventory of items to be returned by either party
3. Original Agreement: Copy of the agreement being terminated as reference
4. Release Documentation: Formal release forms and associated documentation
Authors
Mutual Release
Settlement of Obligations
Payment Terms
Return of Property
Confidentiality
Non-Disparagement
Intellectual Property
Surviving Provisions
Further Assurance
Mutual Representations
Release of Claims
Waiver
Non-Admission
Indemnification
Dispute Resolution
Governing Law
Entire Agreement
Severability
Costs
Notices
Amendment
Assignment
Third Party Rights
Counterparts
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