When do I use this document? for termination of a contract by mutual agreement of the parties for a contract governed by English law What are the key features? agreement in the form of a deed of termination alternative wording depending on whether any provisions of the contract will continue in force after termination alternative wording depending on whether termination amounts to a release of all claims under the contract What else do I need to know? The parties to a contract may agree to bring an agreement to an end earlier than originally envisaged. The contract may itself provide for circumstances in which the contract may be terminated. These include: completion: termination of the contract once the subject-matter of the contract has been achieved notice: termination by one party by giving a specified period of notice to the other party breach: termination by one party either on immediate notice or by giving a specified period of notice following the breach of the contract by the other party (the defaulting party). The contract may provide that the breach must be “material” or “repeated” and/or that the defaulting party has a period of time in which to remedy the breach before the non-defaulting party may terminate the contract In the absence of a party being entitled to terminate the contract by its terms, the termination of a contract will require the mutual agreement of both parties to the contract.

Board minutes: share buyback out of profits

Name: Board minutes: share buyback out of profits - PaperRock Documents
SKU: BOA017.001
Price: 35.00 GBP
Availability: InStock

Minutes of a meeting of the board of directors of a private limited company, recording approval of a share buyback, including consideration of statutory requirements, financing the buyback from distributable profits and authorisation of related documents and filings.

Use this document:

as completion board resolutions of the company repurchasing its own shares out of distributable profits
for a private limited company incorporated in England and Wales
in conjunction with a shareholder resolution for the company to approve the share buyback agreement – see Shareholder resolution: share buyback out of profits

Key features include:

board resolutions to approve the terms of a share buyback agreement with a named shareholder
full consideration of the company’s distributable profits, with reference to annual or interim accounts
acknowledgment of directors’ statutory duties under the Companies Act, including section 172 and distribution rules
approval of the form of the shareholder written resolution under section 694 of the Companies Act
authorisation for directors to execute the buyback agreement and all related documents
provision for filing the required forms at Companies House, including SH03 (return of purchase of own shares) and SH06 (cancellation of shares)

Description

When do I use this document?

for termination of a contract by mutual agreement of the parties
for a contract governed by English law

What are the key features?

agreement in the form of a deed of termination
alternative wording depending on whether any provisions of the contract will continue in force after termination
alternative wording depending on whether termination amounts to a release of all claims under the contract

What else do I need to know?

The parties to a contract may agree to bring an agreement to an end earlier than originally envisaged. The contract may itself provide for circumstances in which the contract may be terminated. These include:

completion: termination of the contract once the subject-matter of the contract has been achieved
notice: termination by one party by giving a specified period of notice to the other party
breach: termination by one party either on immediate notice or by giving a specified period of notice following the breach of the contract by the other party (the defaulting party). The contract may provide that the breach must be “material” or “repeated” and/or that the defaulting party has a period of time in which to remedy the breach before the non-defaulting party may terminate the contract

In the absence of a party being entitled to terminate the contract by its terms, the termination of a contract will require the mutual agreement of both parties to the contract.

Explanatory Guides

As with all of our document templates, your purchase will include access to clear explanatory guidance on the document and its use.

£35.00 exc VAT

Updated by a lawyer on 08/12/2025

Updated By a lawyer on 12/08/2025

Create your document in 3 Easy Steps

“I have worked in legal and business affairs for over 25 years and need access to a wide range of corporate and commercial legal precedents. Paperrock is a refreshing source of high-quality legal templates. Superb value for money.”

Amanda | Bannister Creative

“It’s hard to find legal documents on the internet you can really trust. Knowing an expert lawyer has drafted what I need, gives my business the edge and gives me peace of mind.”