Mutual Consent Agreement
Mutual Consent Agreement
Purpose
This Mutual Consent Agreement ("Agreement") is made and entered into by and between the Parties identified herein for the purpose of establishing terms and conditions under which the Parties agree to engage in a collaborative relationship. The purpose of this Agreement is to outline the mutual obligations and benefits agreed upon by both Parties.
Parties
The Parties involved in this Agreement are as follows:
Party A
Name: [YOUR COMPANY NAME]
Address: [YOUR COMPANY ADDRESS]
Party B
Name: Notable20
Address: St. Louis, MO 63101
Terms and Conditions
1. Obligations of [YOUR COMPANY NAME]
[YOUR COMPANY NAME] agrees to perform the following actions in accordance with the terms of this Agreement:
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Action 1: Transfer all project-related proprietary designs and documentation to Notable20 within 15 business days of the effective termination date.
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Action 2: Provide reasonable assistance to Notable20 to ensure a smooth transition of operational responsibilities.
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Action 3: Cease any use of Notable20s proprietary technology and return all associated assets within 30 business days.
2. Obligations of Notable20
Notable20 agrees to perform the following actions in accordance with the terms of this Agreement:
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Action 1: Complete payment of all outstanding invoices to [YOUR COMPANY NAME] within 10 business days of the effective termination date.
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Action 2: Provide [YOUR COMPANY NAME] with confirmation of receipt of all returned proprietary assets and documentation.
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Action 3: Discontinue any promotional materials referencing [YOUR COMPANY NAME]s brand within 7 business days.
3. Mutual Understandings
Both Parties have agreed to the following mutual understandings and responsibilities:
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Understanding 1: Neither party will disclose any confidential information obtained during the course of the collaboration to third parties for a period of two years following termination.
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Understanding 2: Both parties release each other from all future claims, obligations, or liabilities arising from the terminated relationship, except as explicitly stated in this Agreement.
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Understanding 3: Any disputes arising from this termination will be resolved through binding arbitration in accordance with the rules of [YOUR COMPANY NAME]
4. Confidentiality
Each Party agrees to keep confidential all information disclosed between the Parties in furtherance of this Agreement and not to disclose said information to any third party without the prior consent from the other Party.
5. Term and Termination
This Agreement shall commence on the date of signing and shall continue in effect until terminated by either Party with notice of 30 days in advance.
Signatures
IN WITNESS WHEREOF, the Parties hereto have executed this Mutual Consent Agreement as of the date and year written below.
[Your Name]
Rocky Orn
