For example, if an athlete violates NCAA rules, gets injured, or does something that negatively affects the brand’s image, the company usually has the right to terminate the NIL deal. If a brand does not pay for work you were required to perform under the Agreement, you may have the right to terminate the Agreement. Many contracts allow an athlete to terminate the contract for any reason if they give the company a certain number of days notice that is stated in the contract.
Example Contract Language:
Termination:
- Either party shall have the right to immediately terminate this Agreement during the Term if the other Party materially breaches its duties and obligations hereunder and such breach remains uncured.
- Either party may terminate this agreement for any reason at any time by providing 14 days written notice to the other party.