Addendum Layout
Addendum Layout
Addendum Date: August 9, 2050
Original Agreement Date: June 1, 2050
1. Parties Involved:
[Your Company Name] (hereinafter referred to as "Party A")
Party A is a legal entity duly organized and existing under the laws of [Jurisdiction], with its principal office located at [Your Company Address]. Party A is engaged in [brief description of business activities] and holds the legal authority to enter into and execute this Addendum.
Global Solutions Inc. (hereinafter referred to as "Party B")
Party B is a corporation duly incorporated and operating under the laws of [Jurisdiction], with its principal place of business at 456 Innovation Drive, Suite 200, San Francisco, CA 94105. Party B specializes in advanced data analytics, cloud computing services, and cybersecurity solutions for global enterprises and possesses the requisite legal authority to execute this Addendum.
2. Purpose:
This Addendum serves to modify and supplement the terms of the agreement dated June 1, 2050, between Party A and Party B (hereinafter referred to as the "Original Agreement"). The purpose of this Addendum is to address specific modifications and additions that are necessary for the effective execution and compliance with the Original Agreement.
3. Details of Addendum:
3.1 Modification of Section 5.2:
The section titled "Payment Terms" of the Original Agreement is hereby amended to read as follows: "Payment Terms will now include a 10% discount for early payments made within 10 days of invoice receipt."
This modification is intended to incentivize prompt payment by providing a financial benefit for early settlement of invoices, thereby potentially improving cash flow and operational efficiency for both parties.
3.2 Addition of Section 7.4:
A new section titled "Extended Support Hours" is added to the Original Agreement, and it shall read: "Extended support hours will be available from 8:00 AM to 8:00 PM, Monday through Friday."
The inclusion of this new section aims to provide extended support services, thereby enhancing the accessibility and responsiveness of Party A’s services and improving overall service delivery to Party B.
3.3 Effective Date:
These modifications and additions shall be effective as of August 15, 2050.
This effective date ensures that all changes will be applicable from a specified date, providing a clear timeline for the implementation of the new terms and conditions.
4. Acknowledgment:
By signing this Addendum, both Party A and Party B acknowledge and agree to the modifications and additions as detailed herein.
All other terms and conditions of the Original Agreement not expressly amended by this Addendum shall remain in full force and effect, preserving the integrity of the Original Agreement while incorporating the agreed-upon changes.
The signatures of the authorized representatives of both parties below signify their acceptance of and commitment to the updated terms as set forth in this Addendum.
Signatures:
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[Your Company Name] |
Global Solutions Inc. |
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By: [Your Name] |
By: Suzy Miller |
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Title: Chief Legal Officer |
Title: Chief Operating Officer |
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Date: August 9, 2050 |
Date: August 9, 2050 |
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