TERMINATION AGREEMENT
THIS TERMINATION AGREEMENT (the “Agreement”) dated this __________ day of ___________________ BETWEEN: ________________________ of ____________________ AND _________________________ of _____________________________ (collectively the “Parties” and individually the “Party”)
BACKGROUND
The Licensee Contract presently binds the Parties (the “Contract”) dated April 2020.
Licensee wishes to terminate the Agreement and resolve any and all rights and obligations arising out of the Agreement.
The Licensee requests and presents the following:
- TERMINATION
Subject to the provisions of the Agreement of section 1 that states that the agreement will renew automatically for one successive year unless terminated by Licensee in writing no less than 60 days before the expiration of this Agreement. The Licensee, therefore, writes this to the Licensor to serve a written notice for termination of the Licensee Agreement dated April 2020.
- REPRESENTATIONS AND WARRANTIES
2.1 Licensee acknowledges and agrees that all he will keep completely confident the confidential terms as stipulated in section 18 of the Licensee Agreement, including the financial, operational, or confidential information of any kind not already in public.
2.2 Licensee agrees to return to Licensor all property belonging to them bearing the Licensor’s marks, brand, logos, likeness, or name of Grant Cardone or other intellectual property.
2.3 Licensee represents that he has not engaged in any scandalous conduct and is likely to injure the Licensor’s reputation.
- GOVERNING LAW
Licensee submits to the jurisdiction of the courts of the State of Florida for the enforcement of this Agreement or any arbitration award or decision arising out of this Agreement. This Agreement will be enforced or construed according to the laws of the state of Florida.
- MISCELLANEOUS PROVISIONS
4.1 Time is of the essence in this Agreement
4.2 This Agreement may be executed in counterparts. Fascimile signatures are binding and are considered to be original signatures.
4.3 This Agreement will not be assigned for the Parties’ convenience only and are not to be considered when interpreting this Agreement. Words in the singular mean and include the plural and vice versa.
4.4 If any term, covenant, condition, or provision of this Agreement is held by a court of competent jurisdiction to be invalid, void, or unenforceable, the Parties intend that such provision be reduced in scope by the court only to the extent deemed necessary by that court to render the provision reasonable and enforceable and that the remainder of the provisions of this Agreement will in no way be affected, impaired or invalidated as a result.
4.5 This Agreement contains the entire agreement between the Parties. All negotiations and understandings have been included in this Agreement.
4.6 The Agreement and the terms and conditions contained in this Agreement apply to and are binding upon the Parties and their respective successors, assigns, executors, administrators, beneficiaries, and representatives.
IN WITNESS WHEREOF, the Licensee signs the agreement as follows:
Licensee Name: _______________________
Licensee Signature: ___________________
Witness Name: ________________
Witness Signature: ______________
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