Home Contract Samples S Sublease Termination Agreement

Jump to Section

Quick Facts — Sublease Termination Agreement Lawyers

What is a Sublease Termination Agreement?

A sublease termination agreement is a contract between a current tenant of the property and the previous tenant subleasing the property to the current tenant. For example, business owners often need to terminate their lease early. A sublease termination agreement will cover all of the terms and conditions related to terminating a lease early, including who is responsible for any payments that are still due on the property or whether or not anyone can take over the space after the current tenant leaves.

A well-written, comprehensive sublease termination agreement will help ensure that both parties understand what needs to be done when a party wants out of the contract prematurely. This helps terminate the contract cleanly so both parties don't find themselves in legal trouble.

Common Sections in Sublease Termination Agreements

Below is a list of common sections included in Sublease Termination Agreements. These sections are linked to the below sample agreement for you to explore.

Sublease Termination Agreement Sample

EXHIBIT 10.1

 

SUBLEASE TERMINATION AGREEMENT

This Sublease Termination Agreement ("Agreement") is entered into between PPD Development, LP, a Texas limited partnership ("Sublessor") and Trimeris, Inc., a Delaware corporation ("Sublessee"), this 1st day of April 2009.

WHEREAS, Duke Realty Limited Partnership, successor to Weeks Realty, L.P., ("Lessor"), as lessor, and Sublessor, as lessee, are parties to that certain Lease Agreement dated December 16, 1998 as amended (the "Lease") for the Premises described below;

WHEREAS, Sublessor and Sublessee are parties to that certain Sublease dated June 30, 2004 (the "Sublease"), for certain space located at 3500 Paramount Parkway, Morrisville, North Carolina ("Premises");

WHEREAS, a Memorandum of Sublease and Consent relating to the Sublease was recorded in Book 010955 Page 00468 of the Wake County public records (the "Memorandum of Sublease"); and

WHEREAS, the parties now desire to provide for the termination of the Sublease, and the return of the Premises to Sublessor, prior to the current expiration date of the Sublease.

NOW, THEREFORE, in consideration of mutual promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, it is agreed as follow:

1. Terms. All capitalized terms used herein but undefined shall have the meaning as defined in the Sublease.

2. Termination. Except as otherwise set forth herein and with the exception of those obligations of Sublessor and Sublessee which are to survive any termination of the Sublease by the express terms thereof, if any, which obligations shall survive termination of the Sublease and remain in full force and effect thereafter in accordance with the terms of the Sublease, and provided no event of default has occurred and is continuing, the Sublease shall terminate automatically at 7 a.m.on April 1, 2009 (the "Termination Date") and, effective as of such termination, Sublessor and Sublessee shall be released, each as to the other, from any and all liability and obligations thereafter arising under the Sublease. Sublessor and Sublessee agree that Sublessee is not responsible for making any rental payments for April 2009.

3. Surrender. On or before 7 a.m. of the Termination Date, Sublessee shall surrender the Premises unto Sublessor in accordance with the provisions of the Sublease without notice or demand of any kind or nature whatsoever. Sublessee is hereby expressly waiving any right to notice or demand which Sublessee may have under the terms of the Sublease or the laws of the State of North Carolina with respect to such surrender. Sublessee acknowledges that TIME IS OF THE ESSENCE with respect to Sublessee's surrender of the Premises as required herein, and that Sublessee shall be liable for any and all losses, liability and damages (including, without limitation, attorneys' fees and expenses and loss of rentals from other tenants or potential tenants of the Premises) suffered or incurred by Sublessor or Lessor as a result of Sublessee's failure to surrender the Premises to Sublessor in the condition required herein on or before the Termination Date.

4. Failure to Surrender. In the event Sublessee fails to surrender the Premises as provided in Section 3 above, Sublessor shall, at Sublessor's option, have the right to declare this Agreement null and void by delivering written notice to Sublessee, in which event the Sublease shall remain in full force and effect.

5. Contingencies. Notwithstanding anything to the contrary contained herein, Sublessor and Sublessee hereby acknowledge and agree that this Agreement and the termination contemplated herein are, and are hereby made, expressly contingent upon each of the following:

    • Sublessor and Lessor executing an agreement terminating the Lease as of the Termination Date in form satisfactory to Sublessor ("Lease Termination Agreement").
    • All contingencies in the Lease Termination Agreement have been satisfied and the Lease has terminated as of the Termination Date.
    • Sublessee and Lessor executing and delivering an agreement regarding the termination of the Lease and Sublease in form satisfactory to Sublessee (the "Lessor-Sublessee Agreement").
    • All contingencies in the Lessor-Sublessee Agreement have been satisfied.
    • Sublessee has completed the repairs to the Premises requested by Lessor.

If each of the foregoing contingencies is satisfied as set forth in this Section 5, the Sublease will terminate as of the Termination Date. If said contingencies are not satisfied as set forth in this Section 5 by the Termination Date, this Agreement shall be null and void and the Sublease shall remain in full force and effect.

6. Improvements. Effective as of the Termination Date, Sublessee shall, and hereby does, abandon and quit-claim to Sublessor all its right, title and interest in and to any improvements constructed or installed by Sublessee within the Premises.

7. Representations and Warranties. Sublessee represents and warrants that it has not made any assignment, sublease, transfer, conveyance, or other disposition of the Sublease, or any interest in the Sublease. Sublessee further represents that, except as previously disclosed to Sublessor, there exists no claim, filed or unfiled lien, demand, obligation, liability, action or cause of action arising from the Sublease. As of the date of this Agreement, Sublessor has no knowledge that Sublessee has not fully complied with the terms and conditions of the Sublease including but not limited to, any terms or conditions related to surrender of the Premises, or that Sublessee is in default under any provision of the Sublease,. Sublessor represents and warrants that it has made no assignment, transfer, conveyance or other disposition of its interest in the Lease or the Sublease and has the right to execute and deliver this Agreement.

8. Memorandum of Sublease. Within seven (7) days after the Termination Date, Sublessee shall prepare, execute and deliver in a form reasonably acceptable to Sublessor a memorandum of sublease termination evidencing the termination of the Sublease ("Memorandum of Sublease Termination"). Upon execution by Sublessor and Sublessee, Sublessee shall promptly cause the Memorandum of Sublease Termination to be recorded in the Wake County public records.

9. Governing Law. This Agreement shall be construed and interpreted under the laws of the State of North Carolina, without regard to its conflicts laws or choice of law rules. The parties agree that this Agreement is the result of negotiation by the parties, and thus, this Agreement shall not be construed against the party drafting the same.

10. Entire Agreement. This Agreement contains the entire agreement of the parties hereto with respect to the termination of the Sublease, and no representations, inducements, promises or agreements, oral or otherwise, between the parties not embodied herein or incorporated herein by reference shall be of any force or effect.

    1. Benefit of Parties. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns.
    2. Trimeris Deposit. Within thirty (30) days of the termination of the Sublease, Sublessor shall return the Security Deposit to Sublessee. Sublessor shall be entitled to deduct from the Security Deposit the costs associated with fulfilling Sublessee's obligations under the terms of the Sublease and this Agreement.
    3. Brokers Fees. Sublessor represents and warrants that it has not engaged or entered into any agreement with any broker relating to (i) the termination of the Sublease or the Lease, (ii) this Agreement or (iii) the leasing of the Premises to Bayer CropScience, LP ("Bayer")." Sublessor shall not be responsible for any brokers' commissions associated with the termination of the Sublease, this Agreement, or the leasing of the Premises by Lessor to Bayer. SUBLESSEE HEREBY AGREES TO DEFEND, INDEMNIFY AND HOLD SUBLESSOR HARMLESS AGAINST ANY LOSS, CLAIM, EXPENSE OR LIABILITY WITH RESPECT TO ANY COMMISSIONS OR BROKERAGE FEES CLAIMED ON ACCOUNT OF THE SUBLEASE, THIS AGREEMENT, OR THE LEASING OF THE PREMISES TO BAYER. THE OBLIGATIONS OF INDEMNITY SET FORTH IN THIS PARAGRAPH 13 WILL SURVIVE THE TERMINATION OR EXPIRATION OF THE SUBLEASE AND THIS AGREEMENT.

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.

 

SUBLESSOR: SUBLESSEE:

PPD Development, LP Trimeris, Inc.

By: PPD GP, LLC

Its: General Partner

By: /s/ B. Judd Hartman By: /s/ Martin A. Mattingly

Name: B. Judd Hartman Name: Martin A. Mattingly

Title: General Counsel Title: Chief Executive Officer

Approved this ____ day of April, 2009.


Reference:
Security Exchange Commission - Edgar Database, EX-10.1 2 rrd242989_28463.htm SUBLEASE TERMINATION AGREEMENT, Viewed January 28, 2022, View Source on SEC.

Who Helps With Sublease Termination Agreements?

Lawyers with backgrounds working on sublease termination agreements work with clients to help. Do you need help with a sublease termination agreement?

Post a project in ContractsCounsel's marketplace to get free bids from lawyers to draft, review, or negotiate sublease termination agreements. All lawyers are vetted by our team and peer reviewed by our customers for you to explore before hiring.


ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.


Need help with a Sublease Termination Agreement?

Create a free project posting
Clients Rate Lawyers 4.9 Stars
based on 21,905 reviews

Meet some of our Sublease Termination Agreement Lawyers

Jane C. on ContractsCounsel
View Jane
4.9 (147)
Member Since:
October 8, 2020

Jane C.

Attorney
Free Consultation
New York
21 Yrs Experience
Licensed in CT, DC, NY
Pace University School of Law

Skilled in the details of complex corporate transactions, I have 15 years experience working with entrepreneurs and businesses to plan and grow for the future. Clients trust me because of the practical guided advice I provide. No deal is too small or complex for me to handle.

Recent  ContractsCounsel Client  Review:
5.0

"Jane was thorough and patient through a long list of contract revisions (NDAs, Advisor and Consulting Agreements) tailored to CT and DE. She answered detailed follow-up questions clearly and directly, including on enforceability and non-compete scope. Would recommend for startup post-incorporation and contract work."

Sara S. on ContractsCounsel
View Sara
4.9 (157)
Member Since:
July 14, 2023

Sara S.

Attorney
Free Consultation
Washington, District of Columbia
6 Yrs Experience
Licensed in DC, MD, PA
American University Washington College of Law

With over eleven years of intellectual property experience, I’m happy to work on your contract problem. I am very diligent and enjoy meeting tight deadlines. Drafting memoranda, business transactional documents, termination notices, demand letters, licenses and letter agreements are all in my wheelhouse! Working in a variety of fields, from construction to pharmaceutical, I enjoy resolving any disputes that come across my desk. I will prioritize your project, big or small. Please be ready and prepared with all relevant documentation so we can get started as soon as you click HIRE! Hourly rate projects will be billed hourly in accordance with the timesheet. Flat rate projects will be billed in segments. Choosing an hourly or flat rate is up to you. Absolutely no refunds.

Recent  ContractsCounsel Client  Review:
5.0

"Sara was responsive and knowledgeable about prenup specifics. Thank you so much!"

Samuel R. on ContractsCounsel
View Samuel
5.0 (63)
Member Since:
October 2, 2021

Samuel R.

Attorney
Free Consultation
Phoenix - Arizona
7 Yrs Experience
Licensed in AZ, PA, UT
Widener University Delaware Law School

My career interests are to practice Transactional Corporate Law, including Business Start Up, as well as Real Estate Law, Estate Planning Law, and Intellectual Property Law. I am currently licensed in Arizona, Pennsylvania and Utah, after having moved to Phoenix from Philadelphia in September 2019. I currently serve as General Counsel for a bioengineering company. I handle everything from their Business Transactional Agreements, Private Placement Memorandums, and Corporate Structures to Intellectual Property Assignments, to Employment Law and Beach of Contract settlements. Responsibilities include writing and executing agreements, drafting court pleadings, court appearances, mergers and acquisitions, transactional documents, managing expert specialized legal counsel, legal research and anticipating unique legal issues that could impact the Company. Conducted an acquisition of an entire line of intellectual property from a competitor. In regards to other clients, I am primarily focused on transactional law for clients in a variety of industries including, but not limited to, real estate investment, property management, and e-commerce. Work is primarily centered around entity formation and corporate structure, corporate governance agreements, PPMs, opportunity zone tax incentives, and all kinds of business to business agreements. I have also recently gained experience with Estate Planning law, drafting numerous Estate Planning documents for people such as Wills, Powers of Attorney, Healthcare Directives, and Trusts. I was selected to the Super Lawyers Southwest Rising Stars list for 2024 - 2026. Each year no more than 2.5% of the attorneys in Arizona and New Mexico are selected to the Rising Stars. I am looking to further gain legal experience in these fields of law as well as expand my legal experience assisting business start ups, and also trademark registration and licensing.

Recent  ContractsCounsel Client  Review:
5.0

"Thanks Samuel for your thorough review of my materials. I'm incredibly impressed by your prompt turnaround in drafting my letter. The letter captured the facts perfectly and struck exactly the right tone."

Joshua B. on ContractsCounsel
View Joshua
5.0 (11)
Member Since:
September 19, 2023

Joshua B.

Founder
Free Consultation
Austin, Texas
24 Yrs Experience
Licensed in NY, TX
University of Texas

Josh Bernstein has been serving real estate and corporate transactional clients since 2002. His experience is varied, and he enjoys working on and puzzling out novel and complex corporate and real estate matters. Josh’s experience includes, among other things, the following: representation of public companies in connection with SEC reporting and compliance work (proxies, 10-K’s; 10-Q’s; 8-K’s, etc.); representation of public and private company securities issuances (including private placements, and other similar offerings); assistance in structuring and drafting joint ventures, both for investors and operating partners, and including both real estate and corporate ventures; handling public and private company mergers and acquisitions; and asset sales and dispositions; assisting clients, big and small, with real estate acquisitions, sales and financings; managing large-scale and multi-state real estate portfolio acquisitions, dispositions and financings; complex condominium creation, structuring and governance work, including: commercial condominiums, use of condominiums as a land planning tool, wholesale condominium property acquisitions and dispositions, and rehabilitating failed or faulty condominium legal structures to make ready for sale; development of restrictive covenants and owners’ association documents for master-planned communities; compliance with federal statutes governing real estate sale and development (including, without limitation, the Interstate Land Sales Full Disclosure Act, the Housing for Older Persons Act, and the Americans with Disabilities Act); representation of real estate lenders, for both improved and unimproved property, and including numerous construction financings secured by real estate; assistance with commercial leasing; from both the landlord and tenant side, and including condominium leasing; training residential home and condominium sales staff for compliance with applicable local and federal law; and workouts of all kinds. When he’s not busy lawyering, Josh may be found watching 80’s commercials, flying a single-engine plane, playing poker, or trying to be a good dad.

Recent  ContractsCounsel Client  Review:
5.0

"Josh has been extremely helpful sorting through issues with a tenant."

Daehoon P. on ContractsCounsel
View Daehoon
4.8 (215)
Member Since:
November 26, 2021

Daehoon P.

Corporate & M&A | Venture Capital, Private Equity & Web3 Counsel | Real Estate Transactions
Free Consultation
New York, NY
10 Yrs Experience
Licensed in NY
American University Washington College of Law

Corporate, M&A & Securities Lawyer | Managing Attorney, DP Counsel PLLC Practice Areas: Business Formation | Commercial Contracts | Contract Drafting & Review | Mergers & Acquisitions | Venture Capital | Securities Offerings | Franchise Law | Employment & Equity Compensation | Intellectual Property | Cross-Border Transactions About/Bio: I represent companies, investors, and fund sponsors in corporate transactions, commercial contracting, and private securities matters, from entity formation and early-stage financings to acquisitions, exits, and ongoing strategic counsel. As Managing Attorney of DP Counsel PLLC, I help clients structure transactions clearly, allocate risk thoughtfully, and move deals forward with documentation that is practical, enforceable, and aligned with business objectives. My practice includes both day-to-day commercial matters and more complex transactional work, including venture financings, private offerings, M&A deals, fund-related documents, and cross-border structuring. What I Do: Corporate & Commercial • Entity formation and structuring for corporations, LLCs, and limited partnerships • Operating agreements, shareholder agreements, and governance documents • Commercial contract drafting, review, and negotiation • Vendor, distribution, manufacturing, SaaS, and licensing agreements • Employment, consulting, confidentiality, and equity compensation agreements • Outside general counsel support for growing companies Securities & Private Capital • Private offerings under Regulation D and Regulation S • Private placement memoranda, subscription agreements, and investor documents • SAFE, convertible note, and priced equity financings • Venture capital and private fund formation matters • Fund governing documents and offering document packages • Securities law analysis for private capital raising transactions Mergers & Acquisitions • Letters of intent and term sheets • Stock purchase, asset purchase, and merger agreements • Due diligence coordination and transaction support • Disclosure schedules, closing documents, and post-closing matters • Earnouts, rollover equity, indemnity structures, and related deal terms • HSR, CFIUS, and related regulatory issue spotting for qualifying transactions Digital Assets & Emerging Technologies • Federal-law digital asset and token securities analysis • Entity structuring for blockchain and Web3 ventures • Digital asset fund and operating structures • AML/KYC documentation support and regulatory issue spotting Franchising • Franchise Disclosure Documents (FDDs) • Franchise agreements • Master franchise and area development agreements • Franchise structuring and registration coordination Real Estate Transactions • Commercial real estate acquisitions and dispositions • Real estate joint ventures and syndications • Commercial lease drafting and negotiation • Real estate investment structures and related offering documents Cross-Border & International • U.S. market entry and entity structuring for international clients • Delaware and multi-entity holding structures • Cross-border transaction planning and documentation • Coordination with foreign counsel and tax advisors on cross-border matters Why Clients Hire Me: • Big-law-level drafting with boutique responsiveness • Practical, business-focused advice grounded in execution reality • Clear scoping and transparent fee arrangements • Experience across financings, acquisitions, fund formations, and cross-border transactions Typical Projects: • Contract drafting and negotiation • Entity formation and governance packages • Private offering document suites • Venture financing documentation • M&A transactions from LOI through closing • Fractional or outside general counsel support Industries Technology | SaaS | FinTech | Digital Assets | E-commerce | Healthcare | Real Estate | Food & Beverage | Professional Services

Recent  ContractsCounsel Client  Review:
5.0

"Daehoon drafted a co-op sublease for my New York apartment. He was thorough, responsive through several rounds of revisions, and gave me a clear checklist of everything the package needed. Would definitely recommend."

Megan K. on ContractsCounsel
View Megan
Member Since:
August 1, 2023

Megan K.

Attorney
Free Consultation
Cleveland, Ohio
21 Yrs Experience
Licensed in OH
University of Akron

Hello! I have been working in commercial real estate for about 20 years. My experience is mainly in-house with real estate developers. I enjoy doing commercial real estate transactional work, including leasing, acquisitions and dispositions. I can also lead due diligence efforts for a potential purchase of a real estate asset and review and resolve title issues.

James N. on ContractsCounsel
View James
Member Since:
July 27, 2023

James N.

Owner-Attorney
Free Consultation
Colorado, New Mexico, Missouri
14 Yrs Experience
Licensed in CO, NM
University of Missouri - Kansas City School of Law

I'm a Chicago native and Kansas City transplant that has made regulatory compliance and civil administrative litigation for heavily regulated industries my niche for the past decade.

Find the best lawyer for your project

Browse Lawyers Now

Lawyer Reviews for Sublease Termination Agreement Projects

Additional Consultation

5.0

"Lori is very responsive!"

Dispute
Lease Termination Letter
ContractsCounsel User

Additional Consultation

5.0

"Lori was wonderful to work with! She was quick to respond."

Review
Lease Termination Letter
ContractsCounsel User

NYC Non Lease Renewal from Tenant

5.0

"Super responsive and very easy to work with!!"

New York
Drafting
Lease Termination Letter
ContractsCounsel User

Create Commercial Lease Termination Letter

5.0

"Zachary was thought and very professional throughout the task. I would highly recommend him"

California
Drafting
Lease Termination Letter
ContractsCounsel User

Quick, user friendly and one of the better ways I've come across to get ahold of lawyers willing to take new clients.

View Trustpilot Review

Need help with a Sublease Termination Agreement?

Create a free project posting
Clients Rate Lawyers 4.9 Stars
based on 21,905 reviews
Real Estate lawyers by top cities
See All Real Estate Lawyers
Sublease Termination Agreement lawyers by city
See All Sublease Termination Agreement Lawyers

ContractsCounsel User

Recent Project:
Create Commercial Lease Termination Letter
Location: California
Turnaround: Less than a week
Service: Drafting
Doc Type: Lease Termination Letter
Number of Bids: 4
Bid Range: $125 - $500
User Feedback:
Zachary was thought and very professional throughout the task. I would highly recommend him

ContractsCounsel User

Recent Project:
Tesla Payoff Lease Contract review
Location: Texas
Turnaround: Over a week
Service: Contract Review
Doc Type: Lease Termination Letter
Page Count: 6
Number of Bids: 4
Bid Range: $450 - $800

Need help with a Sublease Termination Agreement?

Create a free project posting
Clients Rate Lawyers 4.9 Stars
based on 21,905 reviews

Want to speak to someone?

Get in touch below and we will schedule a time to connect!

Request a call

Find lawyers and attorneys by city