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Contract Termination Agreement
"I need a Contract Termination Agreement to end a software development agreement with our vendor ABC Technologies, ensuring all source code is transferred to us and including robust confidentiality provisions, with termination effective March 1, 2025."
1. Parties: Identification and details of the contracting parties
2. Background: Context of the original agreement and reasons for termination
3. Definitions: Key terms used throughout the agreement
4. Termination Date: Specific date when the original agreement terminates
5. Settlement Terms: Financial and operational arrangements for termination
6. Mutual Release: Release of claims and liabilities between parties
7. Governing Law: Specification of Singapore law as governing law
1. Confidentiality: Ongoing obligations regarding confidential information - used when original agreement contained confidentiality provisions
2. Non-Compete: Continuation of non-compete obligations - used when original agreement contained non-compete provisions
3. Return of Property: Process for returning company property or documents - used when physical or intellectual property needs to be returned
4. Public Announcements: Rules for making public statements about the termination - used for high-profile or public-facing agreements
1. Schedule of Outstanding Payments: Details of any payments to be made between parties
2. Schedule of Assets: List of assets to be returned or transferred
3. Original Agreement: Copy of the agreement being terminated
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