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?ThisContractTerminationAgreement(the"Agreement")ismadeandenteredintoasof[date]byandbetween[PartyAname],a[typeofentity]organizedandexistingunderthelawsof[jurisdiction]withitsprincipalplaceofbusinessat[address](hereinafterreferredtoas"PartyA"),and[PartyBname],a[typeofentity]organizedandexistingunderthelawsof[jurisdiction]withitsprincipalplaceofbusinessat[address](hereinafterreferredtoas"PartyB").
I.Recitals
1.PartyAandPartyBenteredintoa[contractname](the"OriginalContract")dated[originalcontractdate]forthepurposeof[describethepurposeoftheoriginalcontract,e.g.,theprovisionofcertainservicesorthesupplyofspecificgoods].
2.Dueto[reasonsfortermination,e.g.,changesinbusinesscircumstances,failuretomeetcertainconditions,ormutualagreement],thepartieshavedecidedtoterminatetheOriginalContractandwishtosetforththetermsandconditionsofsuchterminationinthisAgreement.
II.IdentificationoftheParties
1.PartyA
Name:[PartyAname]
LegalAddress:[address]
ContactPerson:[name]
ContactInformation:[phonenumber,emailaddress]
2.PartyB
Name:[PartyBname]
LegalAddress:[address]
ContactPerson:[name]
ContactInformation:[phonenumber,emailaddress]
III.DescriptionoftheSubjectMatter
1.UndertheOriginalContract,PartyAwastoprovide[describetheservicesorgoodsprovidedbyPartyA,e.g.,consultingservicesrelatedtomarketresearch,thesupplyof[productname]inaccordancewithcertainspecifications]toPartyB.PartyBwastopayPartyAatotalconsiderationof[amount]forsuchservicesorgoods.
2.AsofthedateofthisAgreement,[describethestatusoftheperformanceoftheOriginalContract,e.g.,PartyAhadpleted[percentage]oftheservices,andPartyBhadmadepaymentsof[amount]].
IV.TerminationoftheOriginalContract
1.TheOriginalContractshallbeterminatedeffectiveasof[terminationdate].
2.AllrightsandobligationsofthepartiesundertheOriginalContractshallceaseandterminate,exceptasotherwiseprovidedinthisAgreement.
V.RightsandObligationsoftheParties
A.PartyA'sRightsandObligations
1.Rights
PartyAshallhavetherighttoreceivepaymentforanyservicesrenderedorgoodssuppliedpriortotheterminationdateinaccordancewiththetermsoftheOriginalContract.
PartyAshallbeentitledtoretainanydepositsorprepaymentsmadebyPartyBinconnectionwiththeOriginalContract,totheextentthatsuchamountsarenotrefundableunderthetermsoftheOriginalContract.
2.Obligations
PartyAshalldelivertoPartyBanyandallmaterials,documents,andinformationrelatedtotheservicesorgoodsprovidedundertheOriginalContractthatareinPartyA'spossessionorcontrolasoftheterminationdate.
PartyAshallcooperatewithPartyBtotransferanyongoingprojectsoroperationstoathirdpartyortoPartyB,ifrequired,andshallprovideanynecessaryassistanceorsupportduringsuchtransferprocess.
PartyAshallindemnifyandholdPartyBharmlessfromandagainstanyandallclaims,losses,damages,liabilities,andexpensesarisingoutoforinconnectionwithPartyA'sperformanceoftheOriginalContractpriortotheterminationdate.
B.PartyB'sRightsandObligations
1.Rights
PartyBshallhavetherighttodemandthereturnofanydepositsorprepaymentsmadebyPartyBtoPartyAinconnectionwiththeOriginalContract,totheextentthatsuchamountsarerefundableunderthetermsoftheOriginalContract.
PartyBshallbeentitledtouseanymaterials,documents,andinformationreceivedfromPartyAinaccordancewiththetermsofthisAgreementandapplicablelaws.
2.Obligations
PartyBshallpayPartyAanyoutstandingamountsowedforservicesrenderedorgoodssuppliedpriortotheterminationdateinaccordancewiththetermsoftheOriginalContract.
PartyBshallreturntoPartyAanymaterials,documents,andinformationrelatedtotheservicesorgoodsprovidedundertheOriginalContractthatareinPartyB'spossessionorcontrolasoftheterminationdate.
PartyBshallindemnifyandholdPartyAharmlessfromandagainstanyandallclaims,losses,damages,liabilities,andexpensesarisingoutoforinconnectionwithPartyB'suseofthematerials,documents,andinformationreceivedfromPartyAaftertheterminationdate.
VI.PaymentandSettlement
1.OutstandingPayments
PartyBshallpaytoPartyAthefollowingoutstandingamountswithin[paymentperiod]daysofthedateofthisAgreement:
[amount1]for[descriptionofgoodsorservicesforwhichpaymentisdue]
[amount2]for[descriptionofgoodsorservicesforwhichpaymentisdue]
Paymentshallbemadeby[paymentmethod,e.g.,wiretransfertothefollowingbankaccount:[bankaccountdetails]]
2.DepositandPrepaymentSettlement
IfanydepositsorprepaymentsmadebyPartyBtoPartyAarerefundableunderthetermsoftheOriginalContract,PartyAshallrefundsuchamountstoPartyBwithin[refundperiod]daysofthedateofthisAgreement.
IfanydepositsorprepaymentsmadebyPartyBtoPartyAarenotrefundableunderthetermsoftheOriginalContract,PartyAshallretainsuchamountsaspensationfortheservicesorgoodsalreadyprovided.
VII.Confidentiality
1.ConfidentialInformationDefined
ForthepurposesofthisAgreement,"ConfidentialInformation"shallmeananyandallinformation,whetherinwritten,oral,orelectronicform,thatisdisclosedbyonepartytotheotherpartyinconnectionwiththeOriginalContractandthatismarkedasconfidentialorthat,underthecircumstances,oughttobeunderstoodasconfidential.
ConfidentialInformationshallinclude,butnotbelimitedto,businessplans,financialinformation,customerlists,technicalknowhow,andanyotherinformationrelatedtotheparties'businessoperations.
2.ObligationtoMaintainConfidentiality
Eachpartyshallkeepconfidentialandshallnotdisclose,use,orpermittheuseoftheotherparty'sConfidentialInformationtoanythirdparty,exceptasrequiredbylaworwiththepriorwrittenconsentoftheotherparty.
ThisobligationofconfidentialityshallsurvivetheterminationofthisAgreementforaperiodof[confidentialityperiod]years.
VIII.IntellectualPropertyRights
1.OwnershipofIntellectualProperty
AllintellectualpropertyrightscreatedordevelopedbyPartyAinconnectionwiththeservicesorgoodsprovidedundertheOriginalContractshallremaintheexclusivepropertyofPartyA.
PartyBshallnotclaimanyownershiprightsinsuchintellectualproperty,exceptasexpresslypermittedbyPartyAinwriting.
2.LicensetoUseIntellectualProperty
PartyBshallhaveanonexclusive,nontransferablelicensetouseanyintellectualpropertyrightsofPartyAthatarenecessaryforPartyBtousetheservicesorgoodsprovidedundertheOriginalContractinaccordancewiththetermsofthisAgreementandapplicablelaws.
PartyBshallnotsublicense,assign,orotherwisetransferitslicensetousePartyA'sintellectualpropertyrightstoanythirdparty.
Ix.NonCompeteandNonSolicitation
1.NonCompete
Foraperiodof[nonpeteperiod]yearsfromthedateofterminationofthisAgreement,PartyAshallnotengageinanybusinessactivitiesthatareindirectpetitionwithPartyB'sbusiness,asconductedatthetimeoftermination.
ThisnonpeteobligationshallapplyonlytoPartyA'sactivitieswithinthegeographicalareaof[describethegeographicalarea].
2.NonSolicitation
Foraperiodof[nonsolicitationperiod]yearsfromthedateofterminationofthisAgreement,PartyAshallnotsolicitorattempttosolicitanyemployees,customers,orbusinesspartnersofPartyB.
PartyAshallnotencourageorinduceanysuchpersontoleavePartyB'semploymentorbusinessrelationship.
x.RepresentationsandWarranties
1.EachParty'sRepresentationsandWarranties
Eachpartyrepresentsandwarrantstotheotherpartythat:
IthasthelegalrightandauthoritytoenterintothisAgreementandtoperformitsobligationshereunder.
ThisAgreementconstitutesitslegal,valid,andbindingobligation,enforceableinaccordancewithitsterms.
ItwillplywithallapplicablelawsandregulationsinconnectionwiththeperformanceofthisAgreement.
TheinformationprovidedbyittotheotherpartyinconnectionwiththisAgreementistrue,accurate,andplete.
2.NoBreachofOriginalContract
Eachpartyrepresentsandwarrantsthat,asofthedateofthisAgreement,itisnotinbreachofanyofthetermsandconditionsoftheOriginalContract.
xI.Indemnification
1.IndemnificationObligation
Eachpartyshallindemnifyandholdtheotherpartyharmlessfromandagainstanyandallclaims,losses,damages,liabilities,andexpenses(includingreasonableattorneys'fees)arisingoutoforinconnectionwith:
Itsbreachofanyrepresentation,warranty,orobligationunderthisAgreement.
Itsuseormisuseofthematerials,documents,andinformationreceivedfromtheotherparty.
AnyclaimbyathirdpartyallegingthatthegoodsorservicesprovidedbyitundertheOriginalContractinfringetheintellectualpropertyrightsofsuchthirdparty.
2.NoticeofClaim
Intheeventofanyclaimoractionforwhichindemnificationissoughtunderthissection,theindemnifyingpartyshallbenotifiedpromptlyinwritingofsuchclaimoraction.
Theindemnifyingpartyshallhavetherighttoassumethedefenseofsuchclaimoraction,atitsownexpense,withcounselreasonablyacceptabletotheindemnifiedparty.
xII.Severability
1.SeverabilityofProvisions
IfanyprovisionofthisAgreementisheldtobeinvalid,illegal,orunenforceable,thevalidity,legality,andenforceabilityoftheremainingprovisionsshallinnowayinanywaybeaffectedorimpaired.
2.ReformationofProvisions
IntheeventthatanyprovisionofthisAgreementisheldtobeinvalid,illegal,orunenforceable,thepartiesshallnegotiateingoodfaithtoreplacesuchprovisionwithavalid,legal,andenforceableprovisionthatmostcloselyapproximatestheoriginalintentandeconomiceffectoftheinvalid,illegal,orunenforceableprovision.
xIII.EntireAgreement
1.EntireAgreement
ThisAgreementconstitutestheentireagreementbetweenthepartieswithrespecttothesubjectmatterhereofandsupersedesallprioragreementsandunderstandings,oralorwritten,relatingtothesame.
2.AmendmentsandWaivers
Noamendment,modification,orwaiverofanyprovisionofthisAgreementshallbeeffectiveunlessinwritingandsignedbybothparties.
xIV.GoverningLawandJurisdiction
1.GoverningLaw
ThisAgreementshallbegovernedbyandconstruedinaccordancewiththelawsof[jurisdiction].
2.Jurisdiction
AnydisputesarisingoutoforinconnectionwiththisAgreementshallbesubjecttotheexclusivejurisdictionofthecourtslocatedin[jurisdiction].
xV.Notice
1.NoticeAddresses
Anynotice,demand,orothermunicationrequiredorpermittedtobegivenunderthisAgreementshallbeinwritingandshallbedeliveredpersonally,sentbyregisteredorcertifiedmail,returnreceiptrequested,orbyovernightcouriertothefollowingaddresses:
IftoPartyA:[PartyA'saddress]
IftoPartyB:[PartyB'saddress]
2.EffectivenessofNotice
Anynoticeshallbedeemedtohavebeendulygiven:
Ifdeliveredpersonally,onthedateofdelivery.
Ifsentbyregisteredorcertifiedmail,onthedateofreceiptasshownonthereturnreceipt.
Ifsentbyovernightcourier,onthenextbusinessdayafterthedateofdispatch.
xVI.Counterparts
1.Counterparts
ThisAgreementmaybeexecutedincounterparts,eachofwhichshallbedeemedanoriginal,butallofwhichtogethershallconstituteoneandthesameinstrument.
INWITNESSWHEREOF,thepartieshaveexecutedthisContractTerminationAgreementasofthedatefirstabovewritten.
PartyA(Signature):____________________
AuthorizedSignatory:____________________
Date:____________________
PartyB(Signature):____________________
AuthorizedSignatory:____________________
Date:____________________
InaccordancewiththeprovisionsoftheCivilCodeofthePeople'sRepublicofChina(the"CivilCode"),specificallyArticles[relevantarticlenumbers],thisContractTerminationAgreementisformulatedtoclearlydefinetherightsandobligationsofthepartiesupontheterminationoftheoriginalcontract.Theagreementadherestotheprinciplesofequality,voluntariness,fairness,goodfaith,andpliancewithlawsandregulations.
Theidentificationofthepartiesprovidesclearinformationabouttheirlegalstatusandcontactdetails,ensuringthatmunicationandperformanceofobligationscanbecarriedoutsmoothly.Thedetaileddescriptionofthesubjectmatterhelpstopreciselydefinethescopeoftheoriginalcontractandtheworkorgoodsinvolved,whichiscrucialfordeterminingtherightsandobligationsofthepartiesduringtheterminationprocess.
Theterminationclauseclearlystatestheeffectivedateoftermination,bringinganendtotheoriginalcontractualrelationship.Therightsandobligationssectioncarefullydelineatestherightsandresponsibilitiesofbothpartiesaftertermination.PartyA'sobligationtodeliverrelevantmaterialsandcooperateinthetransferprocessistoensureasmoothhandover,whilePartyB'sobligationtopayoutstandingamountsandreturnmaterialsistomaintainfairnessandprotectthelegitimaterightsandinterestsofbothparties.
Thepaymentandsettlementprovisionsspecifytheoutstandingpaymentsandthemethodofsettlement,aswellasthehandlingofdepositsandprepayments,whichhelpstoclarifythefinancialrelationshipbetweentheparties.Theconfidentialityclausesafeguardsthetradesecretsandsensitiveinformationofbothparties,whichisofgreatsignificanceinprotectingbusinessinterests.Theintellectualpropertyrightsclauseclearlydefinestheow
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