Supplementary Agreement
SUPPLEMENTARY AGREEMENT
This Supplementary Agreement (hereinafter referred to as "Agreement"), is entered into on [Effective Date] between [Your Name] having its office located at [Your Company Address] registered under the company number [Your Company Number] (hereinafter referred to as "Party A"), and [Party B Company Name] having its office located at [Party B Company Address] registered under the company number [Party B Company Number] (hereinafter referred to as "Party B").
I. Scope of the Agreement
The scope of this Agreement encompasses any changes, additions, or clarifications to the terms and conditions outlined in the primary agreement. It delineates the boundaries within which modifications can be made while maintaining the integrity and intent of the original agreement.
II. Purpose of the Agreement
The purpose of this Agreement is to ensure clear communication and mutual agreement between the involved parties regarding any alterations to the primary agreement. It aims to provide a framework for transparent negotiation and modification, facilitating efficient resolution of disputes and changes in circumstances.
III. CONFIDENTIALITY
Both parties agree to keep shared information confidential during this agreement's term. Unauthorized sharing or misuse of classified information will violate this agreement.
III.I Obligation to Maintain Secrecy
Both parties are obligated to uphold the confidentiality of the information exchanged throughout the Agreement, preventing any unauthorized disclosure.
III.II Consequences of Unauthorized Disclosure
Any breach of confidentiality, such as unauthorized sharing of classified information, will result in serious consequences and be considered a violation of the Agreement.
III.III Protection of Classified Information
The parties agree to take necessary measures to protect classified information from any form of misuse, including safeguarding it against unauthorized access or disclosure.
III.IV Confidentiality Beyond Agreement Termination
The duty to maintain confidentiality extends even after the termination of the Agreement, ensuring ongoing protection of sensitive information from unauthorized disclosure or exploitation.
IV. VARIATIONS IN TERMS AND CONDITIONS
Post-enactment changes to this Supplementary Agreement are only valid if mutually written and agreed upon by both parties; verbal amendments are invalid.
IV.I Written Agreement Requirement:
Variations or amendments to this Supplementary Agreement must be mutually agreed upon in writing by both parties for validity. Verbal agreements regarding changes to the terms are not recognized.
IV.II Post-Enactment Conditions:
Any modifications made to this Supplementary Agreement after its enactment will be subject to the requirement of a written agreement signed by both parties. Verbal agreements for alterations to the terms will not hold validity.
IV.III Mutually Consented Changes:
Changes or amendments to this Supplementary Agreement must be agreed upon in writing by both parties to be considered valid. Verbal agreements regarding alterations to the terms will not be accepted.
IV.IV Legal Validity:
To maintain legal validity, any variations or amendments to this Supplementary Agreement must be documented in writing and signed by both parties. Verbal agreements concerning changes to the terms will not be legally binding.
V. GOVERNING LAW AND JURISDICTION
This Agreement is governed and interpreted by the laws and rules defined by the jurisdiction in the location where [Your Company Name] operates its business. Any dispute or disagreement arising out of or in connection with this Agreement will be handled and settled exclusively by the legal courts within the jurisdiction.
VI. CONDITIONS PRECEDENT AND SUBSEQUENT
This Supplementary Agreement is conditional on both parties fulfilling the agreement's requirements within a set timeframe. Failure by either party to meet these terms could result in the supplementary agreement being voided or terminated at the non-defaulting party's discretion.
VII. WARRANTIES AND REPRESENTATIONS
Both parties represent that they are duly authorized and capable of entering into this Supplementary Agreement. The representations, warranties, and commitments made by each party in this Agreement are material and are relied upon by the other party in entering this Agreement.
VII.I Authorization: Both parties confirm their authority to enter into the Supplementary Agreement, affirming that they possess the necessary legal capacity and authorization.
VII.II Reliance: Each party acknowledges that the representations, warranties, and commitments outlined in the Agreement are crucial to the agreement's formation and are relied upon by the other party.
VII.III Materiality: The representations and warranties made by both parties are deemed significant to the agreement, indicating their importance in establishing the terms and conditions of the Supplementary Agreement.
VIII. INDEMNITY
Both parties consented to compensate for any loss or damage and not hold each other liable. This applies when there's a breach or non-performance of the Supplementary Agreement's terms, caused by the other party or its representatives. Expenses, including attorney fees, are included in this commitment.
IX. TERMINATION
Either party can end the agreement by giving a 30-day written notice. All rights and obligations stop at termination, except those accrued earlier.
IX.I Notice Requirement
Both parties must provide thirty (30) days written notice to terminate the Agreement, ensuring ample time for transition.
IX.II Cessation of Rights and Obligations
Upon termination, all rights and obligations outlined in the Agreement will cease to be in effect, except for those that were accrued before termination.
IX.III Compliance with Termination Procedures
Both parties are required to adhere to the termination procedures stipulated in the Agreement to ensure a smooth and orderly conclusion.
IX.IV Settlement of Outstanding Matters
Any outstanding matters or disputes between the parties should be addressed and resolved promptly upon termination to avoid prolonged legal conflicts.
IX.V Post-Termination Responsibilities
After termination, both parties may have residual responsibilities such as returning assets, settling outstanding payments, or maintaining confidentiality, as outlined in the Agreement.
X. GOVERNING LAW
This agreement shall be governed by and interpreted under the laws of the state in which both parties reside.
[YOUR NAME]
[DATE SIGNED]
[PARTY B'S NAME]
[DATE SIGNED]
