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The Parties hereby release each other from all actions, causes of action, liabilities, or claims. The parties hereby agree not to sue each other for any matter related to any matter that arose prior to the date this agreement is signed and agree not to seek damages from each other.
Termination of the Contract. The Parties mutually agree that the Contract shall be terminated effective [date] (the "Termination Date"). ... Consideration. ... Mutual Release. ... Effect of Termination on Contract. ... Fees and Expenses. ... Representations. ... No Admission of Liability. ... Cooperation between the Parties.
A mutual release is used when both parties accept responsibility for the injuries or damages that they have suffered. Both parties waive their right to take legal action against each other in exchange for compensation.
This is a generic form of termination agreement for use when parties to a commercial contract have mutually agreed to terminate the agreement. It includes an optional mutual release of claims. This Standard Document has integrated notes with important explanations and drafting tips.
The Parties hereby release each other from all actions, causes of action, liabilities, or claims. The parties hereby agree not to sue each other for any matter related to any matter that arose prior to the date this agreement is signed and agree not to seek damages from each other.