Termination of agreement sample

This termination and release agreement is between , an individual a(n) (" ") and , an individual a(n) (" ").

The parties have entered into an agreement, dated as of (the "Agreement"), relating to . A copy of the Agreement is attached as Exhibit A.

Under section of the Agreement, the parties may terminate the Agreement. Agreement if .

The term of the Agreement is scheduled to expire on (the "Expiration Date") and the parties wish to terminate the Agreement before the Expiration Date.The parties therefore agree as follows:

The parties therefore agree as follows:

1. TERMINATION.

Effective as of (the "Termination Date"), the parties terminate the Agreement. The Agreement will be void and of no further binding effect. However, any provision in the Agreement that would otherwise survive in accordance with the terms of the Agreement will survive the termination of the Agreement in accordance with its terms.

2. MUTUAL RELEASE OF LIABILITY.

3. RESTRICTIVE COVENANTS.

4. RETURN OF GOODS.

Within days of the Termination Date, each party shall return all goods provided under the Agreement (the "Goods") to the other party at the returning party's expense. The returning party shall return the Goods in good and proper repair, condition, and working order, ordinary wear and tear excepted, advise the other party immediately of any loss of or damage to the Goods, and, within Number days of the Termination Date, reimburse the other party for all costs and expenses incurred to put the Goods into good and proper repair, condition, and working order, if the cause of loss or damage is attributable to the negligence or willful conduct of the returning party.

5. COVENANT NOT TO SUE.

Each party hereby covenants to the other party that with respect to any claim or obligation released by this termination, it will not directly or indirectly encourage, solicit, or voluntarily assist or participate in any way in filing, reporting, or prosecution, by itself or any third party, of a suit, arbitration, mediation, or claim (including a third-party or derivative claim) against the other party relating to that released claim or obligation.

6. GOVERNING LAW.

7. AMENDMENTS.

No amendment to this agreement will be effective unless it is in writing and signed by a party or its authorized representative.

8. COUNTERPARTS; ELECTRONIC SIGNATURES.

9. SEVERABILITY.

If any provision contained in this agreement is, for any reason, held to be invalid, illegal, or unenforceable in any respect, that invalidity, illegality, or unenforceability will not affect any other provisions of this agreement, but this agreement will be construed as if the invalid, illegal, or unenforceable provisions had never been contained in it, unless the deletion of those provisions would result in such a material change so as to cause completion of the transactions contemplated under this agreement to be unreasonable.

10. NOTICES.

11. WAIVER.

No waiver of a breach, failure of any condition, or any right or remedy contained in or granted by the provisions of this agreement will be effective unless it is in writing and signed by the party waiving the breach, failure, right, or remedy. No waiver of any breach, failure, right, or remedy will be deemed a waiver of any other breach, failure, right, or remedy, whether or not similar, and no waiver will constitute a continuing waiver, unless the writing so specifies.

12. ENTIRE AGREEMENT.

This agreement, together with the Agreement, constitutes the final agreement of the parties. It is the complete and exclusive expression of the parties' agreement with respect to the subject matter of this agreement. All prior and contemporaneous communications, negotiations, and agreements between the parties relating to the subject matter of this agreement are expressly merged into and superseded by this agreement. The provisions of this agreement may not be explained, supplemented, or qualified by evidence of trade usage or a prior course of dealings. Neither party was induced to enter this agreement by, and neither party is relying on, any statement, representation, warranty, or agreement of the other party except those set forth expressly in this agreement. Except as set forth expressly in this agreement, there are no conditions precedent to this agreement's effectiveness.

13. HEADINGS.

The descriptive headings of the sections and subsections of this agreement are for convenience only, and do not affect this agreement's construction or interpretation.

14. EFFECTIVENESS.

This agreement will become effective when all parties have signed it. The date this agreement is signed by the last party to sign it (as indicated by the date associated with that party's signature) will be deemed the date of this agreement.

15. NECESSARY ACTS; FURTHER ASSURANCES.

Each party shall use all reasonable efforts to take, or cause to be taken, all actions necessary or desirable to consummate and make effective the transactions this agreement contemplates or to evidence or carry out the intent and purposes of this agreement.

[SIGNATURE PAGE FOLLOWS]

Each party is signing this termination on the date stated opposite that party's signature.

Date:__________________________________ By:____________________________________________________________
Name:
Title: