DIY Legal Forms

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Termination Of Agreement

BE IT KNOWN, that for value received, that the undersigned, ___________ and ______________, being parties to a certain agreement dated _______________, 20 ___, whereas said agreement provides for: __________________, do hereby mutually cancel and terminate said agreement, effective this date.

This Termination of Agreement will act as a mutual release of all obligations under this agreement for both parties, as if the agreement has not been entered into in the first place.

This Termination binds and benefits both parties and any successors. This document, including the attached agreement being terminated, is the entire agreement between the parties.

The parties have signed this Termination on the date specified at the beginning of this Termination.

We further provide that said termination shall be without further recourse by either party against the other and this document shall constitute mutual releases of any further obligations under said agrement, all to the same extent as if said agreement had not been entered into in the first instance, provided the parties shall herewith undertake the below described acts to terminate said agreement, which obligations, if any, shall remain binding, notwithstanding this agreement to cancel.

Further Assurances. In connection with this Agreement and the transactions contemplated hereby, each party to this Agreement will execute and deliver any additional documents and perform any additional acts that may be necessary or appropriate to effectuate and perform its obligations under this Agreement and the transactions contemplated hereby.

Entire Agreement. This Agreement contains the entire agreement of the parties and there are no other promises or conditions in any other agreement whether oral or written. This Agreement supersedes any prior written or oral agreements between the parties.

Applicable Law. This Agreement shall be governed by the laws of the State of _____.

IN WITNESS WHEREOF, the parties have executed this agreement the day and year as first above written at _________ (City), ________ (State).

In the presence of:

_____________________________

Witness

_____________________________

First Party

____________________________

Witness

_____________________________

Second Party