BUSINESS PARTNERSHIP TERMINATION AGREEMENT

by | Aug 26, 2023 | Agreements

BUSINESS PARTNERSHIP TERMINATION AGREEMENT

THIS TERMINATION AGREEMENT ( the ‘Agreement’) dated May 10, 2022 is entered into
by and between ____________________ and
__________________. Collectively referred to as ‘Parties’, and
individually referred to as ‘Party.’
BACKGROUND
A. Whilst, the Parties are currently business partners.
B. The Parties wish to terminate the business partnership and resolve any and all
rights and obligations arising out the Contract.
IN CONSIDERATION OF and as a condition of the Parties entering into this Agreement
and other valuable consideration, the receipt and sufficiency of which consideration is
acknowledged, the Parties agree as follows:
TERMINATION

  1. By this Agreement, the Parties mutually terminate their Business Partnership,
    and __________will cease being a Partner as of ________________.
  2. In consideration of the termination, _____ will receive 50% of the
    profits accrued while running the business.
  3. The Parties acknowledge by this Agreement that the consideration provided
    and received by each other is fair, just and reasonable and that no further
    consideration, compensation or obligation will be due, payable or owing with
    regard to the Agreement as of the execution date of this Agreement.
  4. __ agrees to not pursue __ further after the
    termination of this Agreement or request to join the business in the further.
  5. By this Agreement the Parties release each other from any and all claims,
    causes of actions, demands and liabilities of whatever nature which either
    Party had in the past, has now or may have in the future arising from or related
    to the A

GOVERNING LAW
The Parties submit to the jurisdiction of the courts of the State of _ for
the enforcement of this Agreement or any arbitration award or decision arising from
this Agreement. This Agreement will be enforced and construed according to the laws
of the State of _____.
ENTIRETY
This Agreement contains the entire agreement between the Parties. All negotiations
and understandings have been included in this Agreement. Statements or
representations which may have been made by any Party in the negotiation stages of
this Agreement may in some way be inconsistent with this final Agreement. All such
statements are declared to be of no value to this Agreement. Only the written terms
will bind the Parties.
IN WITNESS WHEREOF, the Parties agree to be bound as follows
Name: __________
Signature: _________
Date: _____________

Name: __________
Signature: _________
Date: _____________

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