A simple exit agreement for a party to leave a 4 parties agreement and be partially released form the rights and obligations under the Agreement (excluding the rights and obligations already in existence prior to the Exit Date). The Continuing Parties continue as a parties to the Agreement.
The partial release of the Leaving Party's rights and obligations means he gives up all rights and discharges all liabilities and obligations of that Party arising under the Agreement except to the extent that they are already accrued and in existence as at the date of exit and/or those not relating to the business under the Agreement.
Each of the Parties agrees to act reasonably to implement and/or give effect to the Exit Agreement. On the other hand, person not a Party to the Exit Agreement have no right under the Agreement to enforce any of its terms.
1. Create Document: Click “Create Document” button and fill in the details of the
parties. You can click the “Fill with Member’s Information” button to complete the
party’s information with your personal or business information saved to your account.
2. Please fill in any additional information by following the step-by-step guide on the left
hand side of the preview document and click the “Next” button.
3. When you are done, click the “Get Document” button and you can download the
document in Word or PDF format.
4. Please get all parties to review the document carefully and make any final modifications
to ensure that the details are correct before signing the document. Each party should
have a copy of the executed document.