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The phrase "agreeing to terminate" is correct and usable in written English.
It can be used in contexts where parties are coming to a mutual decision to end a contract, agreement, or relationship.
Example: "After much discussion, both parties are agreeing to terminate the contract effective immediately."
Alternatives: "consenting to end" or "deciding to conclude".
Exact(3)
CSL will pay Talecris a $75 million fee after agreeing to terminate the proposal, the company said in a filing.
It has been sparked by an undercover newspaper investigation into sex-selection abortions, secretly filming doctors at British clinics agreeing to terminate foetuses because they were either male or female.
Hull KR prop Jason Netherton has left the club after agreeing to terminate his contract a year early.
Similar(57)
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.
But late yesterday the two companies said they had agreed to terminate the acquisition.
Dynegy, a Houston power producer, agreed to terminate two contracts and restructure two others on July 3.
In relatively short order, the managers and the family agreed to terminate operations.
The bureau said the couple had agreed to terminate the pregnancy, but Mr Deng disagreed.
On December 20 , 2016 the parties announced that their respective boards of directors had agreed to terminate their merger agreement.
D'Antoni and the Suns agreed to terminate the final two years of his contract in Phoenix with no obligations.
Rangers have announced that they have agreed to terminate the contract of the midfielder Joey Barton with immediate effect.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com