A termination agreement usually comes into effect on a date specified by the parties to the agreement. The contract may also be triggered by other means, by . B by manual delivery, delivery by an agent or if seven days have elapsed after their delivery to the post office with postage stamped. One. The parties are currently bound by the following contract (the «Agreement») of [Insert Date]: A. The parties entered into a contractual relationship dated December 16, 1999, in which REC commissioned Events to develop annual media plans and budgets (the «Plans») for the promotion of five separate annual events, collectively referred to as «the Doings». whereas the duration of the Agreement of 16 December 1999 was valid for a period of three years; and this period was extended until 16 December 2004, in accordance with the self-renewal wording of paragraph 10 of the Agreement of 16 December 2004. December 1999 in the respective extended version. This letter template is intended to assist in the design of a termination of a commercial contract with another company. It contains key elements to avoid misunderstandings and end an amicable partnership. B. The parties entered into a contractual relationship dated August 15, 2001, in which REC Events engaged in the development of school day events as part of the Southern California Renaissance Pleasure Faire, hereinafter referred to as the «California School Days Agreement». That the duration of the California School Days Agreement was valid for a period of two years until August 15, 2003, as set out in Article 10 of the California School Days Agreement of August 15, 2001.
In consideration of the termination of the contractual relationship established by the three respective contracts mentioned in this Agreement, and as a complete settlement of any other event claims that exist now or may arise in the future, REC agrees to pay Events and Events agrees to accept the sum of two hundred and ten thousand dollars ($210,000.00). The two hundred and ten thousand dollars ($210,000.00) will be paid in three instalments, with a payment of $70,000 no later than June 1, 2003, June 1, 2004 and June 1, 2005. The parties agree that in the event that REC fails to make a payment in instalments to the events by June 1 of the relevant year, REC shall owe the events a default penalty of five percent (5%) of the $70,000 instalment payment. In addition, the parties agree that in the event that REC on or before 1. Events has the right to terminate the suspension of the restrictive agreements applicable to Sechter until payment is made in instalments. Events agrees that after payment of the amount of $210,000 and all commissions due to events on sponsorship income, Events definitively waives all restrictive agreements regarding the employer-employee relationship between REC and Sechter, but that such restrictions will only be lifted by Events to the extent that they are collected.B. The parties wish to terminate the contract and terminate all rights and obligations arising from the contract. [Insert the name of the contract that currently binds the parties] E. During its relationship with Events, REC worked with Sheridan Sechter, formerly Sheridan Harl, Director of Marketing Services for Events.
In the following, Sheridan Sechter/Harl will be known as Sechter. Sechter is no longer an event employee. REC would like to have the opportunity to discuss and/or negotiate a working relationship with Sechter. Sechter has certain contractual obligations to Events under certain restrictive agreements established by the employment contract between Events and Sechter of 30 July 1995, as amended from time to time, and extended until 14 July 2002, 15 November 2002 and 5 May 2004. D. REC wishes to terminate its contractual relationship with the events established by the Agreement of 16 December 1999 as amended, the California School Days Agreement of 15 August 2001 and the New York School Days Agreement of 15 August 2001. Any information provided by either party under this Agreement or any agreement or document that may be performed or provided under this Agreement shall be deemed strictly confidential and shall not be disclosed to any third party by either party without the prior written consent of the other party; provided that nothing in this Agreement limits the disclosure of such information by either party to their officers, attorneys or accountants, or any other disclosure that may be required by law. A. Entire Agreement. This Agreement constitutes the entire termination agreement between the parties on matters set forth herein and supersedes all agreements between the parties with respect to matters prior to the date of this Agreement.
This Agreement may only be amended or supplemented by a letter signed by both Parties. Since REC and Events mutually understand and agree that the above contracts are to be terminated on 10 December 2002, Events Sechter will provide all relevant files, databases, contact lists and documents of any kind between REC and Events at the same time as the signing of this Agreement. 11. This Agreement contains the entire agreement between the parties. All negotiations and agreements have been incorporated into this agreement. Any statement or representation made by either Party during the negotiation phases of this Agreement may, in any way, be inconsistent with this Definitive Written Agreement. All such statements shall be deemed worthless in this Agreement. Only the written terms of this Agreement are binding on the parties. Please confirm receipt of this letter as termination of our contract and closure of our account. If you have any questions, please contact me at [Phone] or [Email Address]. 1.
Through this Agreement, the parties are resilient and resilient to the Agreement as of June 16, 2020. Outstanding obligations Keep in mind that different states have different rules and regulations when it comes to contractual terms, and that some types of contracts may not comply with this rule, so you may need to seek legal advice. LawDepot`s termination agreement is written by default to take effect on a specific date, so if the agreement is intended to take effect via another trigger, it must be written manually into the document using the document editing tool. .