This Termination of Contract is made on _________________, 20 __, between __________, of ________________, City of __________, State of _____, and _________________, of _______________, City of ________, State of _____.
For valuable consideration, the parties agree as follows:
1. The parties are currently bound under the terms of the following described contract, which is attached and is part of this Termination:
2. They agree to mutually terminate and cancel this contract effective on this date. This Termination Agreement will act as a mutual release of all obligations under this contract for both parties, as if the contract has not been entered into in the first place.
3. This Termination binds and benefits both parties and any successors. This document, including the attached contract being terminated, is the entire agreement between the parties.
The parties have signed this Termination on the date specified at the beginning of this Termination.