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to annual the contract

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breach of contract/to break the contract

to tear up the contract

金融方面
a．开发基金贷款合同
b．政策调整贷款合同
c．出口信用贷款合同
d．商业信用贷款合同
e．基建工程项目贷款合同

Party A: Brainstorming Company Limited, (the employer)
Party B: Jim (the employee)
The duty of Party A: pay the employee at the rate of US ＄3000 per month and, in addition, compensate him for any other expense incurred by him when he is carrying out his duties.
The duty of Party B: agree to carry out the following duties, to negotiate with American authorities about the cooperation between Brainstorming group and business circles of the USA, to arrange for the visits of Steve Wang, president, and other executive to America, to act as authorized representative in any relating to the cooperation with America and to respond to any inquires from China parties．In this employment, the employee shall act honestly, laboriously and to the best of his ability.
Validity of the agreement: on January 1st , 2009.