An agency relationship can be terminated at any time for any of the following reasons except:

An agency relationship can indeed be terminated in various ways, but disclosure does not independently serve as a reason for termination. The termination of an agency relationship typically requires certain conditions to be met, such as the death of either party, mutual agreement, or the expiration of a pre-determined agreement term.

Death of either party conclusively ends the relationship, as the agent or principal can no longer fulfill their roles. Similarly, mutual agreement means both parties have consented to terminate their relationship, which is a straightforward and often amicable resolution. The expiration of an agreement is also a clear-cut reason; once the specified time within which the agent was authorized to act has passed, the authority is automatically revoked.

Disclosure refers to the act of sharing information, which does not inherently lead to the termination of the agency. While disclosure might impact the relationship or lead to other issues, it is not a method through which the relationship is formally and definitively ended, making this the correct choice among the options.