Check to see if your previous contract allows for addendums. If the contract does not allow addendums or alternations, the addendum agreement may be rendered unenforceable if it is challenged in court.
Contract Addendum 1 (herein referred to as the "Agreement") is entered into on the (Day) day of the (Month) month of (Year) ("Effective Date") between:
[Party 1.FirstName] [Party 1.LastName] of [Party 1.Company] of [Party 1.StreetAddress] [Party 1.City] [Party 1.State] [Party 1.Country] [Party 1.PostalCode] (herein referred to as "Party 1") and
[Party 2.FirstName] [Party 2.LastName] of [Party 2.Company] of [Party 2.StreetAddress] [Party 2.City] [Party 2.State] [Party 2.Country] [Party 2.PostalCode] (herein referred to as "Party 2") who may be collectively referred to as "the Parties" or generally as "Party."
WHEREAS, Parties entered into a contract titled (Title) on the (Day) day of (Month) of (Year) (herein referred to as "Contract") for the purposes of (contract purpose).
WHEREAS, Parties mutually desire to amend the previously entered into Contract to achieve the purpose of the Contract pursuant to the terms and conditions as set forth in the Contract.
WHEREAS, this Agreement is the (first/second/third/etcetera) amendment to the Contract and the most recent update to the Contract.
IN CONSIDERATION OF the mutual promises herein, the Parties agree to amend their obligations in the existing Contract and fulfill the terms and conditions as listed below:
Rather than listing every change to the contract in the body of the contract addendum, you can attach old provisions and new changes as separate exhibits. This will streamline the contract addendum and guarantee there is no confusion as to which provisions exist in the final amended contract.
Exhibit A attached to this Agreement represents the original provisions of the Contract that Parties mutually wish to amend. Parties agree that upon the Effective Date of this Agreement, Exhibit A provisions shall be unenforceable and deleted from the Contract in their entirety.
Exhibit B attached to this Agreement shall replace the provisions of the Contract as set forth in Exhibit A on the Effective Date of this Agreement. The provisions in Exhibit B shall remain in full force and effect until an additional addendum is drafted and signed, or the Contract is terminated.
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Except as explicitly provided for in this Agreement, the remaining provisions, covenants, terms, and conditions of the Contract shall remain in full force and effect. No other change shall be permitted to the Contract or this Agreement unless Parties agree upon future amendments as described in the FUTURE AMENDMENTS clause.
Parties may, upon their mutual agreement and discretion, choose to amend the Contract and this Agreement with a separate signed and notarized addendum. All prior addendums shall remain in full force and effect unless the new addendum explicitly invalidates the prior addendums.
Parties agree that in order to induce the termination of the Contract or this Agreement, Parties must abide by the termination clause in the Contract. If no such clause is present in the Contract, the Party who wishes to terminate this Agreement must submit a termination request in writing to the other Party no later than 60 days before the intended termination.
Parties may mutually agree to terminate this Agreement with a signed and notarized termination addendum executed pursuant to the Contract or this section.
If Parties are unable to mutually agree to the termination of this Agreement, they shall be required to consult a professional mediator to resolve any disputes regarding the termination of this Agreement.