A more thorough explanation:

Definition: A surrenderee is a person to whom a surrender is made. Surrender means yielding to another's power or control, giving up a right or claim, or returning an estate to the person who has a reversion or remainder.

Examples:

• When a tenant gives up their possession of a property before the lease has expired, the landlord can take possession and treat the lease as terminated. In this case, the tenant is the surrenderee.
• If a person delivers an instrument to another person, and the delivery releases the deliverer from all liability, the person receiving the instrument is the surrenderee.

These examples illustrate how a surrenderee is a person who receives something that is being surrendered by someone else. In the first example, the tenant surrenders their possession of the property, and the landlord becomes the surrenderee. In the second example, the person receiving the instrument becomes the surrenderee because the deliverer is surrendering their liability.