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Termination of Contract
FOR CONSIDERATION mutually exchanged between the parties, ________ [Name] of ________ [Address], and ________ [Name] of ________ [Address], this agreement is made this ________ day of ________ 20 __.
WHEREAS, ________ [Name] and ________ [Name] have previously entered into a contract dated the ________ day of ________ 20 __; and
WHEREAS, both parties desire to terminate the contract:
[Description of Contract]
NOW, therefore intending to be legally bound, both parties agree as follows:
1. The above-described contract shall cease as of the ________ day of ________ 20 __.
2. Both parties agree to release each other of liability.
3. In all other respects, said contract shall continue in full force and effect.
Both parties agree not to molest, harass, interfere with, or impose any restraint upon the other, except as set out in this agreement.
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.
This Agreement is of a personal nature and may not be assigned.
Governing Law. The parties hereby expressly acknowledge and agree that this Agreement is entered into in the State of [STATE] and, to the extent permitted by law, this Agreement shall be construed, and enforced in accordance with the laws of the State of [STATE].
IN WITNESS WHEREOF, the parties have executed this agreement the day and year first above written.