Law Firm Extension of Agreement
Law Firm Extension Agreement
This Extension Agreement ("Agreement") is made effective as of [Month Day, Year] ("Effective Date"), between [Your Company Name], a [State] Corporation ("Law Firm"), and [Your Client Name] ("Client"). This Agreement extends the duration of the original contract between the parties dated [Month Day, Year], as amended ("Original Agreement") pursuant to the terms and conditions set forth below.
WHEREAS, the Law Firm and the Client have engaged in a professional services agreement as per the Original Agreement whose term is set to expire on [Month Day, Year]; and
WHEREAS, the parties desire to continue their association under the terms of the Original Agreement and agree to extend such Agreement; and
WHEREAS, this Agreement will outline the terms governing the extension of the Original Agreement.
1. Extension of Agreement
In consideration of the mutual covenants and promises herein contained, the Parties agree to extend the term of the Original Agreement for a period of two (2) additional years. Accordingly, the termination date of the Original Agreement shall now be [New Termination Date], unless further extended by mutual written consent of the Parties, which must be formally documented in a subsequent amendment to this Agreement.
2. Terms and Conditions
During the extended term, all terms and conditions of the Original Agreement shall remain in full force and effect. The following stipulations apply:
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Continuation of Services: The services provided under the Original Agreement shall continue uninterrupted during the extended period.
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Preservation of Obligations: All obligations, representations, warranties, and commitments contained in the Original Agreement shall be maintained unless explicitly modified by this Extension Agreement.
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Amendments: Any amendments or modifications to the terms of the Original Agreement during this extension period must be made in writing and signed by duly authorized representatives of both Parties. Such amendments shall become effective upon the date specified in the amendment documentation.
3. Consideration
In consideration of the extension of the Agreement and the continued provision of services by the Company, the Partner agrees to the following payment terms and conditions:
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Fee Structure: The Partner shall pay the Company a fixed fee of $50,000 for the legal services provided during the extension period.
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Payment Schedule: The total fee shall be payable in two (2) annual installments of $25,000 each.
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First Installment: $25,000 due on [First Payment Date]
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Second Installment: $25,000 due on [Second Payment Date]
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Late Payment: In the event that any installment is not paid on or before the due date, a late payment fee of [Specify Late Fee Percentage]% per month on the outstanding amount may be imposed.
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Method of Payment: Payments are to be made via [Acceptable Payment Methods, e.g., bank transfer, check] to the account specified by the Company.
4. Amendments
This section outlines the procedures required to amend or modify the terms of the current Agreement. To maintain the integrity and enforceability of any changes, the following stipulations apply:
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Requirement for Written Modification: No amendment, change, or modification to this Agreement will be considered valid or binding unless it is set forth in writing and formally executed.
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Signatory Requirements: The written amendment must be signed by duly authorized representatives of both parties. Each party must ensure that the individuals signing the amendment have the legal authority to bind the respective party to the new terms.
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Specificity of Changes: The document effectuating the amendment must specifically describe the changes to the terms of the Agreement, including detailed explanations of any deletions, additions, or other modifications.
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Effective Date: The amendment will take effect on the date specified within the written document, which must be agreed upon by both parties.
This process is designed to ensure that both parties are fully aware of and agree to the terms of any changes, thereby preventing misunderstandings and disputes regarding the interpretation of the Agreement.
5. Entire Agreement
This section confirms the comprehensiveness and exclusivity of the Agreement in representing the contractual relationship between the parties. The following provisions clarify the scope and precedence of this Agreement:
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Integration Clause: This Agreement, along with the Original Agreement referenced herein, constitutes the complete and exclusive statement of the agreement between the parties regarding its subject matter. It incorporates all terms discussed and agreed upon and is intended as the final expression of their agreement.
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Supersession of Previous Agreements: This Agreement supersedes any and all prior agreements, oral or written, between the parties related to the subject matter herein. This includes any preliminary discussions, negotiations, commitments, or writings that may have been made or shared prior to the execution of this Agreement.
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Exclusivity of Documentation: The terms and provisions contained in this Agreement and the Original Agreement are the sole points of reference for legal obligations and rights concerning the subject matter. No other agreements, representations, or understandings, whether established prior to or simultaneously with this Agreement, shall affect or interpret the terms of this and the Original Agreement.
These provisions ensure that all negotiations and agreements are centralized within this document, providing clarity and legal certainty to the parties involved and preventing reliance on undocumented verbal agreements or assumptions.
6. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of [State].
7. Signatures
Both parties hereby agree to the terms and conditions set forth in this Extension Agreement and have executed this Agreement as of the Effective Date.
[Your Company Name]
[Your Name]
[Your Job Title]
[Date]
[Your Client Name]
[Your Client Name]
[Job Title]
[Date]
