Release Agreement
This Release Agreement (the “Release Agreement”) is entered into this [day] of [month, year] (the “Effective
Date”), between [name of party] (“Party A”), with offices located at [address] and [name of party] (“Party B”) with
offices located at [address]. Party A and Party B are sometimes individually referred to herein as a “Party” and
collectively as the “Parties”.
WHEREAS, Party A and Party B entered into a [name of contract being, e.g., Services Agreement] dated [date]
(the “Contract”), pursuant to which [brief description of terminated contract, e.g., Party A agreed to provide
services to Party B] pursuant to the terms and conditions and as more fully set forth in the Contract; and
WHEREAS, the Parties desire to terminate the Contract and release each other from any and all claims that
they had, have or may have arising out of or in connection with the Contract.
NOW THEREFORE, in consideration of the undertakings of the Parties as set forth in this Release Agreement,
and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and
intending to be legally bound, the Parties agree as follows:
1. Termination of the Contract. The Parties mutually agree that the Contract shall be terminated effective
[date] (the "Termination Date"). [Optional: Except as expressly provided herein, the Contract will terminate
according to the terms as set forth therein.] Upon the Termination Date, the Contract shall have no further force
or effect.
2. Consideration. In full satisfaction of its payment obligations under the Contract, and as adequate
consideration for the early termination of the Contract as set forth herein, Party B agrees to pay Party A
[amount of payment], which payment shall be made on or before [due date for payment]. Other than the
payment referenced in this Section 2, the Parties acknowledge and agree that no additional consideration of
any kind is due from either Party with respect to the Contract.
3. Mutual Release. Party A and Party B do hereby irrevocably and unconditionally release, cancel, and forever
discharge the other Party and its directors, officers, employees, subsidiaries, affiliates, agents, and
representatives from any and all claims, complaints, causes of action, demands, damages, obligations,
liabilities, losses, promises, agreements, controversies, penalties, expenses, and executions of any kind or
nature whatsoever, whether known or unknown, actual or potential, whether arising in law or in equity, which
each Party may have, may have had, or may in the future obtain, arising out of or relating to any acts,
omissions, agreements, or events relating in any manner to the Contract. Each Party represents and warrants
that it has not filed any action or initiated any other proceeding with any court or government authority against
or involving the other Party that may constitute a claim or provide the basis for any liability that is excluded from
the release provide for in this Section 3.
4. Effect of Termination on Contract. Except as expressly provided in this Release Agreement, the Parties
acknowledge and agree that their respective rights and obligations under sections [cite applicable Contract
provisions] shall survive the termination of the Contract pursuant to the terms and conditions as set forth
therein. Any and all transactions completed by the Parties under the Contract prior to the Termination Date