Printable Contract Addendum
PRINTABLE CONTRACT ADDENDUM
I. Introduction
This Printable Contract Addendum is made and entered into on August 8, 2052, by and between John Smith of Smith Enterprises, LLC and [Your Name] of [Your Company Name]. This addendum modifies the original partnership agreement dated January 15, 2050, (the "Original Contract") between the parties for their collaborative business venture.
II. Amendment Details
This appendix outlines the following amendments to the Original Contract:
II.I Change in Profit Sharing Ratio
The profit-sharing ratio shall be revised from 60/40 to 50/50, effective immediately. This change reflects the increased contributions and risk management shared equally by both parties.
II.II Extension of Partnership Duration
The partnership term is extended by an additional 3 years, now concluding on January 15, 2055. This extension provides additional time for the partners to achieve their long-term goals.
II.III Modification of Responsibilities:
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Smith Enterprises, LLC will now assume full responsibility for marketing and sales, including developing and implementing all marketing strategies and sales initiatives.
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[Your Company Name] will handle product development and customer service, focusing on product enhancements and ensuring customer satisfaction.
II.IV Additional Capital Contribution
[Your Name] agrees to contribute an additional $50,000 to the partnership capital by September 1, 2052. This capital will expand production capacity and invest in new technology.
II.V New Product Line
The partners agree to introduce a new product line, EcoTech Solutions, starting October 1, 2052. This product line aims to diversify the portfolio and reach a broader market.
III. Effective Date
The changes specified in this addendum will become effective on August 8, 2052.
IV. Definitions
|
Term |
Definition |
|---|---|
|
Profit Sharing Ratio |
The percentage split of profits between the partners is now set at 50/50. |
|
Partnership Term |
The duration of the partnership agreement was extended to January 15, 2055. |
|
Responsibilities |
The duties assigned to each partner include marketing for Smith Enterprises, LLC, and product development for our company. |
|
Capital Contribution |
The financial investment made by each partner into the partnership, with an additional $50,000 contribution by [Your Name]. |
|
Product Line |
A new series of products was introduced by the partnership, including the EcoTech Solutions line. |
V. Miscellaneous Provisions
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Governing Law: This addendum shall be governed by and construed by the laws of the state of California.
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Entire Agreement: This addendum, together with the Original Contract, constitutes the entire agreement between the parties and supersedes all prior agreements or understandings related to its subject matter.
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Severability: If any provision of this addendum is found to be invalid or unenforceable, the remaining provisions will continue in full force and effect.
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Confidentiality: Both parties agree to maintain the confidentiality of this addendum and any proprietary information exchanged during the partnership.
VI. Signatures
IN WITNESS WHEREOF, the parties hereto have executed this Printable Contract Addendum as of the day and year first above written.
John Smith
Managing Partner
Smith Enterprises, LLC
[Your Name]
CEO
[Your Company Name]
