The Generic Addendum To An Existing Contract serves as a flexible tool for contract modification under U.S. law. This document type is essential when parties need to update, modify, or clarify terms in their original agreement without creating an entirely new contract. It's commonly used when circumstances change, new terms need to be added, or existing terms require modification. The addendum must reference the original agreement and clearly specify which provisions are being modified while affirming that all other terms remain in effect.
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1. Identification of Original Agreement: Reference to the original contract including date, parties, and subject matter
2. Parties: Clear identification of all parties to the addendum (must match original agreement)
3. Background: Brief recital of why the addendum is necessary and its relationship to original agreement
4. Definitions: Any new terms being introduced or modified definitions from original agreement
5. Modifications: Specific changes, additions, or deletions to the original agreement
6. Ratification: Statement confirming all other terms of original agreement remain in effect
1. Effective Date: Specific date when modifications take effect, if different from signing date
2. Additional Consideration: Details of any new consideration exchanged for the modification
3. Term Extension: Modified duration of the agreement if being changed
1. Modified Pricing Schedule: Updated pricing terms if applicable to the modification
2. Revised Scope of Work: Modified deliverables or services if scope is being changed
3. Approval Documentation: Any required corporate resolutions or authorizations for the modification
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