Release Agreement

Summary

This release agreement template can be used by parties to a commercial contract when they have agreed to terminate their agreement and to provide mutual releases of all claims related to the terminated agreement. This template includes practical guidance, drafting notes, and alternate and optional clauses. The agreement includes terms addressing, among other items, the consideration for the termination; a broad, mutual release of all claims relating to the terminated contract; the effect of termination; representations; no admissions of liability; as well as standard terms traditionally found in commercial agreements. For a full listing of related contract clauses, see General Commercial Contract Clause Resource Kit. For general information regarding drafting commercial contracts, see Commercial Contract Drafting and Review.