Board Resolution to Terminate a Contract

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

BOARD RESOLUTION TO TERMINATE A CONTRACT

DATE: {{date}}

REFERENCE NO: {{resolution_reference_number}}

WHEREAS

The Board of Directors of {{company_name}} (hereinafter referred to as “the Company”) duly convened a meeting on {{meeting_date}} at {{meeting_time}} at {{meeting_location}}.

The meeting was held to deliberate on the contractual agreement (hereinafter referred to as “the Contract”) between the Company and {{other_party_name}}, concerning {{contract_purpose}}, dated {{contract_start_date}}.

After careful review and consideration of the terms and conditions of the Contract, and in light of {{reasons_for_termination}}, it has been deemed necessary and in the best interests of the Company to terminate the said Contract.

IT IS HEREBY RESOLVED THAT

1. The Contract, entered into between {{company_name}} and {{other_party_name}} on {{contract_start_date}}, for {{contract_purpose}}, shall be terminated with effect from {{termination_effective_date}}.

2. {{authorised_officer_name}} ({{authorised_officer_title}}) is hereby authorised to formally notify {{other_party_name}} of the Company’s decision to terminate the Contract, in accordance with the terms and conditions stipulated in the Contract regarding termination clauses.

3. All necessary steps be taken to ensure an orderly and compliant termination of the Contract, including, but not limited to, the settlement of outstanding obligations, retrieval of company assets, and adherence to any notice periods specified in the Contract.

4. The Company Secretary is hereby authorised to record this Resolution in the Company’s minute book and to take all further actions as may be necessary to give effect to this Resolution.

CERTIFICATION

We, the undersigned, being the Chairman and Secretary of the Board of Directors of {{company_name}}, hereby certify that the above is a true and accurate record of a resolution duly passed by the Board of Directors at a meeting held on {{meeting_date}}.

SIGNATORIES

___________________________

{{chairman_name}}

Chairman of the Board

Date: {{signature_date}}

___________________________

{{company_secretary_name}}

Company Secretary

Date: {{signature_date}}