Addendum to Existing Contract

Addendum to the Employment Contract

Effective Date: August 15, 2050

Reference to Original Contract:

This Addendum to the Employment Contract (the "Addendum") is made and entered into by and between [Your Company Name] (the "Company") and Andrei Gomez (the "Employee"). This Addendum modifies the Employment Contract dated January 10, 2050 (the "Original Contract").

Purpose:

The purpose of this Addendum is to amend specific terms of the Original Contract to reflect changes in the Employee’s compensation and responsibilities.

Section I: Compensation Adjustment

1. Current Salary: The Employee’s current annual salary is $75,000, as specified in the Original Contract.

2. New Salary: Effective August 15, 2050, the Employee’s annual salary will be adjusted to $85,000.

3. Payment Schedule: The new salary will be paid in bi-weekly installments of $3,269.23, subject to applicable taxes and deductions.

Payment Period	New Salary (Annual)	New Payment per Period
Bi-weekly	$85,000	$3,269.23

Section II: Job Responsibilities

1. Current Responsibilities: As outlined in Schedule A of the Original Contract.

2. New Responsibilities: The Employee’s job responsibilities will now include the following additional duties:

   • Leading the project management team for the upcoming product launch.

   • Overseeing the development and implementation of new employee training programs.

Section III: Benefits and Perquisites

1. Current Benefits: As per the benefits package detailed in Section V of the Original Contract.

2. Updated Benefits: The following benefits will be updated:

   • The Company will grant 5 extra vacation days annually.

   • Eligibility for an annual performance bonus of up to 10% of the new salary.

Section IV: Termination Clause

1. Current Clause: Termination of employment as described in Section VII of the Original Contract.

2. Revised Clause: The notice period for termination by either party will now be extended to 90 days. This change will be effective from August 15, 2050.

Section V: Miscellaneous

1. Entire Agreement: This Addendum, along with the Original Contract, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements, understandings, and negotiations, whether oral or written.

2. Conflicts: In case of any conflict between the terms of this Addendum and the Original Contract, the terms of this Addendum shall prevail.

Signatures

By signing below, both parties acknowledge and agree to the terms of this Addendum.

For [Your Company Name]:

Name: [Your Name]
Title: HR Manager
Date: August 15, 2050

For the Employee:

Name: Andrei Gomez
Date: August 15, 2050

Company Contact Information:

For any questions or clarifications, contact [Your Email] or call [Your Company Number].

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