Every Project has a signed Terms of Reference. It outlines how Projects and MakeWay work together, and includes a section on terminating the relationship.

The key points from this section include:

• Termination can be initiated by either a Project or MakeWay.
• The Project is responsible for paying the costs of transferring or winding down its activities.

To cover costs, MakeWay may retain the following Project assets (whichever is greater):

• Cash in the amount of $1,000.
• Outstanding receivables shown on the Project balance sheet.
• One percent (1%) of revenues received by the Project in the 24 months preceding the termination date.

The Terms of Reference specifies that either the Project leadership or the MakeWay senior management team can terminate a Project with 60 days’ written notice.

This is the minimum amount of time required for a Project to leave MakeWay, because there are many important legal and operational matters that need to be addressed. A longer wind down period may be required to ensure that all matters are handled appropriately.

After providing notice, Projects should set up a meeting with their Project Specialist. Ensure that the representatives for the Project who attend this meeting, e.g. the Project Director, Steering Committee members, or key employees, are informed about the Project’s current activities and have a plan for the Project's next steps.

In the meeting, identify:

• All current activities, e.g. grants, contracts, employment agreements, etc.
• All current liabilities.
• Any outstanding issues.
• A plan for completing, terminating, or transferring all obligations.