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Business Exit Agreement

A completed negotiated exit and release agreement covering handover, payment, confidentiality, IP, restrictive covenants and preservation of non-waivable rights.

Jurisdiction: England and Wales - completed fictional worked example

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Important: This sample provides general legal information only and is not legal advice. Check the law, prescribed forms and signing requirements that apply to your exact jurisdiction and circumstances before use.

# BUSINESS EXIT AGREEMENT

Date: 13 December 2029

Parties: Brightwell Design Limited and Daniel Cole

## 1. Parties, transaction and definitions

Brightwell Design Limited and Daniel Cole agree an orderly end to Daniel's consultancy and minority shareholding arrangements. This is a commercial exit, not an employment settlement agreement.

## 2. Commercial scope and consideration

The consultancy ends on 31 December 2029. Brightwell pays £24,000 plus VAT for accepted work, £8,000 for listed project IP and £12,000 as release consideration within five Business Days after signed copies and handover.

## 3. Performance, approvals and records

Daniel delivers source files, client notes and passwords, returns company property and assists with two transition calls. Brightwell provides an agreed-facts reference and pays approved expenses; neither party admits breach or liability.

## 4. IP, confidentiality and data

Daniel assigns listed project designs and source files with full title guarantee, subject to third-party and moral-rights consents. Pre-existing IP remains with its owner. Confidentiality lasts three years and indefinitely for trade secrets; protected disclosures are not restricted.

## 5. Term, termination and transition

On payment, each party releases the other from known civil claims arising from the consultancy and shareholding up to signing, except this agreement, accrued rights, fraud, personal injury, tax, confidentiality, IP and non-releasable rights. A separate compliant transfer buys back Daniel's 2,000 shares for £6,000.

## 6. Risk allocation and remedies

No non-compete is added beyond an existing reasonable six-month non-solicitation of clients with material contact, to the extent enforceable. Breach permits injunction and damages, not a penalty. Handover data is returned or deleted subject to legal retention.

## 7. England and Wales law and signatures

England and Wales law governs and courts have exclusive jurisdiction. Each party had independent legal and tax advice and signs voluntarily; this is not a COT3 or statutory settlement agreement. Signed on 13 December 2029.

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