The phrase "agreed to mutually terminate" is correct and usable in written English.
It can be used in legal or formal contexts when two parties come to a consensus to end an agreement or contract.
Example: "After several discussions, both parties agreed to mutually terminate the contract to pursue other opportunities."
Alternatives: "consented to end" or "decided to jointly terminate".
"When we're busy, we agree to mutually ignore each other.
Also due to the economic conditions, Ariba and Agile Software say they mutually agreed to terminate their proposed merger agreement without payment of any termination fees.
"Aston Villa and Philippe Senderos have mutually agreed to terminate the defender's contract," said a statement on the club's website.
On Friday, after being questioned about its dealings with Mr. Gordon, the society said "the American Bible Society and Richard Gordon have mutually agreed to terminate all existing business relationships".
The companies mutually agreed to terminate the deal, valued at $203 million when it was announced in May, because the Food and Drug Administration questioned the way in which Gliatech presented its data on its only product, Adcon, a gel that prevents postsurgical scarring.
A year ago, Mr. Kushner and Anbang Insurance Group, a Chinese financial conglomerate with close ties to the country's ruling circles, mutually agreed to terminate their discussions of a possible $4 billion deal.
The following year Kaká and Milan mutually agreed to terminate his contract, and he signed to play with the expansion team Orlando City SC of North America's Major League Soccer, which was slated to begin play in 2015.
The PCT says that in November, it and the firm "mutually agreed to terminate the contract with an exit date of 31 March 2011 in order to allow for safe transfer of patient care and for effective plans for staff to be made".
Jack Wilkie, vice president for marketing and franchise development at Aamco in Bala-Cynwyd, Pa., said on Friday that the company and agency "mutually agreed to terminate our relationship because of strategic and philosophical differences in our creative direction". Publicis/ Bloom, part of Publicis S.A., offered a similar reason for the parting.
