BUSINESS ADDENDUM
I. Introduction
This Business Addendum (the "Addendum") is made and entered into as of August 9, 2055, by and between [Your Company Name] ("Party A") and Global Solutions Inc. ("Party B"). This Addendum modifies and supplements the existing contract titled "Service Agreement for IT Support" dated June 15, 2050 (the "Original Contract"). All terms and conditions of the Original Contract remain in full force and effect except as specifically modified by this Addendum.
II. Amendments/Changes
Section | Original Term | Amended Term |
|---|
Payment Terms | Payment due within 30 days of the invoice date | Payment due within 45 days of the invoice date |
Scope of Services | Includes consulting services only | Includes consulting and training services |
Contract Duration | Contract term: 12 months | The Contract term was extended to 24 months |
Deliverables | Monthly performance reports | Quarterly performance reports and bi-monthly meetings |
Service Fees | $5,000 per month | $6,000 per month, with an additional fee for expedited support |
Confidentiality | Standard confidentiality clause | Enhanced confidentiality with specific data protection measures |
III. Effective Date
Effective Date | Original Contract Date | New Effective Date |
|---|
June 15, 2050 | June 15, 2050 | August 9, 2055 |
IV. Termination Procedures
Termination Clause | Original Clause | Revised Clause |
|---|
Termination Notice | 30 days written notice | 60 days written notice |
Termination for Cause | Immediate upon breach | 30 days to cure breach before termination |
Termination by Mutual Agreement | Not specified | Either party may terminate by mutual agreement with 30 days' notice |
Post-Termination Obligations | Standard data return and destruction clause | Enhanced data return protocols including secure transfer and certification of destruction |
V. Signatures
[Your Name]
CEO
[Your Company Name]
[DATE SIGNED]
Emily Johnson
CEO
Global Solutions Inc.
[DATE SIGNED]
VI. Contact Information
Party A | Party B |
|---|
[Your Name] | Emily Johnson |
[Your Company Email] | Emily.email@company.com.fict |
[Your Company Number] | 987-654-3210 |
[Your Company Address] | 456 Global Plaza, Suite 200, New York, NY, 10001 |
This Business Addendum is made effective as of August 9, 2055, and is intended to be legally binding. Please ensure all relevant sections are reviewed and agreed upon before signing.
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