Board Resolution to Terminate a Contract

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}}

Website: {{website}}

BOARD RESOLUTION TO TERMINATE A CONTRACT

Effective Date: {{date}}

RESOLUTION

WHEREAS, {{company_name}} (the “Company”) entered into a contract with {{other_party_name}} (the “Other Party”) on {{contract_start_date}} for {{contract_purpose}} (the “Contract”); and

WHEREAS, the Board of Directors has reviewed the terms and conditions of the Contract and the current business circumstances impacting the Company’s interests; and

WHEREAS, it has been determined that the termination of the Contract is in the best interests of the Company.

IT IS HEREBY RESOLVED:

1. That the Contract between {{company_name}} and {{other_party_name}}, effective {{contract_start_date}}, shall be terminated.

2. That the termination shall be effective as of {{termination_date}}.

3. That the Board of Directors hereby authorises and directs the {{authorised_officer_title}}, or any other duly authorised officer of the Company, to take all necessary actions to effectuate the termination of the Contract, including without limitation, drafting and sending notice of termination to the Other Party, negotiating and executing any necessary termination agreements, and settling any outstanding obligations.

4. That the Company shall comply with all notice periods and other termination clauses as stipulated in the Contract.

FURTHER RESOLVED:

That any and all actions taken by the {{authorised_officer_title}} prior to the adoption of this Resolution in connection with the termination of the Contract are hereby ratified, confirmed, and approved.

CERTIFICATION

The undersigned, being the Secretary of {{company_name}}, a company duly incorporated under the laws of {{jurisdiction}}, hereby certifies that the foregoing is a true and correct copy of a resolution duly adopted by the Board of Directors of the Company at a meeting duly called and held on {{meeting_date}}, at which a quorum was present and voting throughout, and that such resolution is in full force and effect as of the date hereof. The minutes of this meeting are filed in the Company’s minute book.

IN WITNESS WHEREOF

The undersigned has executed this Certificate on this {{day}} day of {{month}}, {{year}}.

Signature Block

_____________________________

{{secretary_name}}

Company Secretary

{{company_name}}