Early Termination Fee
In the event that the Customer terminates this Agreement prior to the end of the Term, the Customer shall be liable for an early termination fee. This fee will be calculated based on the remaining time in the contract term as follows:
- Annual Termination Fee: $1,000 per year remaining.
- Monthly Termination Fee: $83.33 per month remaining.
Example Fee Calculations
For reference, the following are examples of the early termination fee based on various lengths of time remaining on the contract:
| Time Remaining | Annual Termination Fee | Monthly Termination Fee |
|---|---|---|
| 1 month | $1,000 | $83.33 |
| 6 months | $1,000 | $499.98 |
| 12 months (1 year) | $1,000 | $999.96 |
| 18 months | $2,000 | $1,499.94 |
| 24 months (2 years) | $2,000 | $1,999.92 |
| 36 months (3 years) | $3,000 | $2,999.88 |
Summary of Fees
- If the Customer terminates this Agreement with 1 to 12 months remaining, the fee will be $1,000 or $83.33 multiplied by the number of months remaining, whichever is lower.
- If the Customer terminates this Agreement with 13 to 24 months remaining, the fee will be $2,000 or $83.33 multiplied by the number of months remaining, whichever is lower.
- If the Customer terminates this Agreement with 25 to 36 months remaining, the fee will be $3,000 or $83.33 multiplied by the number of months remaining, whichever is lower.
The Customer agrees to pay the applicable early termination fee within thirty (30) days of the termination date.