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1. Parties: Identification of the company and the independent contractor, including their full legal names, addresses, and any registration numbers
2. Background: Brief overview of the original contract relationship and the decision to terminate
3. Definitions: Key terms used throughout the agreement, including 'Effective Date', 'Original Agreement', 'Final Payment', etc.
4. Termination Date: Clear specification of when the contractor relationship will end
5. Final Payment Terms: Details of any outstanding payments, final invoices, and settlement amounts
6. Return of Property: Requirements for returning company property, equipment, documents, and data
7. Confidentiality Obligations: Ongoing obligations to maintain confidentiality of company information
8. Intellectual Property Rights: Confirmation of ownership of work created during the contract period
9. Mutual Release: Release of claims and liabilities between parties
10. Governing Law: Specification of Indian law as governing law and jurisdiction details
11. Execution: Signature blocks and execution details
1. Transition of Services: Include when contractor needs to transfer work or knowledge to company or replacement contractor
2. Non-Competition: Include when there are specific concerns about competition post-termination
3. Tax Indemnity: Include when there are complex tax implications or potential liabilities
4. Dispute Resolution: Include when parties want to specify arbitration or mediation procedures
5. Survival Clauses: Include when specific obligations need to survive termination
6. References: Include when parties agree on the nature of future references or recommendations
7. Amendment to Original Agreement: Include when original agreement terms need modification rather than complete termination
1. Schedule 1 - Final Payment Calculation: Detailed breakdown of all final payments, including any pro-rated fees
2. Schedule 2 - Company Property List: Itemized list of all company property to be returned
3. Schedule 3 - Outstanding Deliverables: List of any work items to be completed before termination
4. Schedule 4 - Handover Checklist: Detailed list of tasks and documents required for proper handover
5. Appendix A - Original Contract Reference: Copy or key terms of the original contractor agreement
6. Appendix B - Final Release Form: Standard form for mutual release of claims
Information Technology
Professional Services
Construction
Healthcare
Education
Media and Entertainment
Manufacturing
Consulting
Real Estate
Financial Services
E-commerce
Digital Marketing
Research and Development
Human Resources
Legal
Procurement
Operations
Finance
Compliance
Administration
Project Management Office
Business Operations
Human Resources Director
Legal Counsel
Procurement Manager
Project Manager
Operations Director
Chief Financial Officer
Contracts Manager
Compliance Officer
Business Unit Head
Department Manager
Administrative Manager
Chief Executive Officer
Company Secretary
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