Common use of RESCISSION AND TERMINATION Clause in Contracts

RESCISSION AND TERMINATION. 8.1 The parties hereto shall rescind, terminate or renew this Agreement according to the Employment Contract Law of the People’s Republic of China and relevant regulations of the State and local government. 8.2 If Party A is required to pay economic compensation to Party B for rescinding or terminating this Agreement according to law, the payment standard shall be governed by relevant provisions of the Employment Contract Law of the People’s Republic of China. 8.3 When this Agreement is rescinded or terminated, or expires, Party B shall immediately stop all activities in the name of Party A, complete the unsettled matters as requested by Party A, settle all accounts, and return Party A’s properties on the date of such termination, rescission and expiration, including but not limited to: (1) All documents, files and copies thereof relating to Party A and its management, operation and product, which are kept, used or controlled by Party B; (2) The name list and information of Party A’s suppliers, clients and other contact entities and individuals; (3) The software, disk, hardware and CDs containing Party A’s information and data; and (4) The tools, instruments, equipment and other office supplies provided by Party A for Party B’s work. 8.4 When this Agreement is rescinded or terminated, Party B shall hand over his or her work promptly and completely according to Party A’s procedure. Where Party A is required to pay economic compensation to Party B according to law, it shall pay after Party B completes the handover. 8.5 Where this Agreement is rescinded or terminated, Party A shall issue certificate of rescission or termination, and transfer Party B’s files and social insurances according to law.

RESCISSION AND TERMINATION. 8.1 The parties hereto shall rescind, terminate or renew this Agreement according to the Employment Contract Law of the People’s Republic of China and relevant regulations of the State and local government. 8.2 If Party A is required to pay economic compensation to Party B for rescinding or terminating this Agreement according to law, the payment standard shall be governed by relevant provisions of the Employment Contract Law of the People’s Republic of China. 8.3 When this Agreement is rescinded or terminated, or expires, Party B shall immediately stop all activities in the name of Party A, complete the unsettled matters as requested by Party A, settle all accounts, and return Party A’s properties on the date of such termination, rescission and expiration, including but not limited to: (1) All documents, files and copies thereof relating to Party A and its management, operation and product, which are kept, used or controlled by Party B; (2) The name list and information of Party A’s suppliers, clients and other contact entities and individuals; (3) The software, disk, hardware and CDs containing Party A’s information and data; and (4) The tools, instruments, equipment and other office supplies provided by Party A for Party B’s work. 8.4 When this Agreement is rescinded or terminated, Party B shall hand over his or her work promptly and completely according to Party A’s procedure. Where Party A is required to pay economic compensation to Party B according to law, it shall pay after Party B completes the handover. 8.5 Where this Agreement is rescinded or terminated, Party A shall issue certificate of rescission or termination, and transfer Party B’s files and social insurances according to law.