Legal Addendum Format
Legal Addendum Format
This Addendum is made on August 11, 2050, by and between:
[Your Company Name], located at [Your Company Address] (hereinafter referred to as "Company"), Bright Horizons Inc., located at 456 Innovation Drive, Building 2, Tech City, TX 75001 (hereinafter referred to as "Client").
WHEREAS, Company and Client entered into a Service Agreement dated July 15, 2050 (the "Agreement");
WHEREAS, both parties desire to amend certain terms of the Agreement to reflect new conditions and understandings;
NOW, THEREFORE, in consideration of the mutual covenants contained herein, the parties agree to the following amendments.
1. Amendments:
Section 4 - Payment Terms:
The payment terms outlined in the original Service Agreement are hereby revised to reflect a change in the service fee structure. Specifically:
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The original service fee of $5,000, as detailed in Section 4 of the Agreement, will be increased to $6,000.
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This revised fee amount will be effective from September 1, 2050, and shall be payable according to the following updated schedule:
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An initial deposit of $1,500 due upon signing this Addendum.
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The remaining balance of $4,500 to be paid in two equal installments of $2,250 each, with the first installment due on October 1, 2050, and the second installment due on November 1, 2050.
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All other payment terms and conditions outlined in the original Agreement remain unchanged, including payment methods and late fee penalties.
Section 6 - Service Delivery:
The service delivery schedule specified in the original Agreement requires adjustment to accommodate additional project requirements. As a result:
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The final delivery date for the services outlined in Section 6 of the Agreement is extended from January 15, 2051, to March 1, 2051.
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This extension is necessitated by the need for additional research and development and unforeseen delays in the supply chain.
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Interim milestones and deliverables will remain as previously agreed, with revised deadlines to be mutually established and documented in an updated project timeline annexed to this Addendum.
2. Effective Date:
This Addendum shall become effective on September 1, 2050. All terms and conditions outlined herein shall be incorporated into and form part of the original Service Agreement. From this date forward, the amendments specified in this Addendum will supersede any conflicting provisions in the original Agreement. Both parties acknowledge and agree that the terms of this Addendum shall govern the rights and obligations of the parties with respect to the changes outlined.
3. Miscellaneous:
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Governing Law: This Addendum shall be governed by and construed in accordance with the laws of the State of Texas. The interpretation and enforcement of this Addendum shall be subject to the legal standards and regulations applicable in the State of Texas.
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Dispute Resolution: Any disputes or disagreements arising from or related to this Addendum shall be resolved through arbitration. The arbitration shall take place in Tech City, Texas, and shall be conducted in accordance with the rules and procedures of the American Arbitration Association (AAA). The decision of the arbitrator shall be final and binding on both parties.
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Entire Agreement: This Addendum, together with the original Agreement, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior negotiations, representations, or agreements, whether written or oral, relating to such subject matter.
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Amendment: Any further modifications to this Addendum must be made in writing and signed by authorized representatives of both parties.
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[Your Company Name] |
Bright Horizons Inc. |
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By: [Your Name] |
By: Hannah Park |
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Title: Chief Legal Officer |
Title: Chief Operating Officer |
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Date: August 11, 2050 |
Date: August 11, 2050 |
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