Termination Agreement (Mutual) This is a generic form of termination agreement for use when parties to a commercial contract have mutually agreed to terminate the agreement. It includes an optional mutual release of claims. This Standard Document has integrated notes with important explanations and drafting tips.
Basically just talk to HR, explain the situation nicely and ask them if it would be possible to simply agree to void your contract.
What is contract termination? Contract termination is the process of ending a contract before the obligations within it have been fulfilled by all parties. This means that one or more parties have made the decision to conclude the contract earlier than they had originally agreed when drafting and signing it.
To cancel a contract without penalty, you need to send a written cancellation notice to the other party within a certain notification period. If the other entity refuses to honor the cancellation notice, you can take them to court or the governing authority.
An employment agreement is a contract between an employer and an employee that defines the terms and conditions of employment. An employment agreement, or workplace agreement, solidifies the working relationship between the employer and employee by outlining both parties' rights, responsibilities, and expectations.
It shall serve a written notice to the Supplier/Contractor/Consultant of its decision and, unless otherwise provided, the Contract is deemed terminated from receipt of the Supplier/Contractor/Consultant of the notice of decision. The termination shall only be based on the ground(s) stated in the Notice to Terminate.
Contract termination involves ending an active contract before it is entirely performed per both parties' agreed-upon terms and conditions. If a written agreement is terminated before parties perform obligations, the requirement to fulfill these obligations becomes void.