A termination of consulting agreement is an agreement signed between two parties wherein the consulting services are terminated. The agreement comes into operation when two parties mutually agree to release each other from existing agreement of consultancy. This agreement results in mutual relinquishment of the respective legal rights and obligations agreed upon earlier. The agreement specifies about the board of directors , shared facilities, compensation upon separation, details about the stocks etc .The agreement also details the important mutual access details, company strategies, confidentiality of information mutually shared,exchange of information, etc
Both the parties agree upon few other important decisions, financial terms and conditions, resource management, claims, return of company properties etc. The agreement also includes some important details such as name and addresses of both the parties, date and time of the agreement, Intellectual property, previous agreement details, etc. The agreement has to be duly signed by both the parties in accordance to the agreed terms and conditions.
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