Professional Legal Addendum
Effective Date: Aug. 13, 2050
Parties Involved:
Legal Firm: [Your Company Name]
Client: Horizon Tech Solutions
Original Contract Date: June 1, 2050
Amendments and Clarifications:
Payment Schedule:
The payment schedule has been adjusted to reflect the extended project phases. The new schedule is as follows:
Phase 1 Completion Payment: $50,000 due by Sept. 1, 2050
Phase 2 Completion Payment: $75,000 due by Nov. 15, 2050
Final Payment: $100,000 due upon project completion by Dec. 31, 2050
Revised Timelines:
Due to unforeseen circumstances, the project timelines have been revised. The new deadlines are:
Design Phase Completion: Aug. 30, 2050
Development Phase Completion: Oct. 31, 2050
Testing and Launch: Dec. 20, 2050
Additional Deliverables:
Horizon Tech Solutions has requested the inclusion of the following additional deliverables:
Mobile App Integration: Incorporation of mobile app functionalities into the existing system, to be completed by Nov. 10, 2050
Data Migration Support: Extended support for migrating data from legacy systems, to be provided until Dec. 15, 2050
Penalties for Non-Compliance:
In the event of non-compliance with the revised timelines or deliverables, a penalty of 2% of the total contract value per week of delay will be enforced. This penalty will be deducted from the final payment.
Dispute Resolution:
Any disputes arising from the terms of this addendum will be resolved through mediation within 30 days. If mediation fails, the dispute will be escalated to arbitration in accordance with the laws of your state.
Confidentiality Clause:
Both parties agree to maintain the confidentiality of the terms outlined in this addendum. Disclosure of these terms to third parties without prior written consent from both parties will result in legal action.
Acknowledgment:
By signing below, both parties agree to the terms outlined in this addendum. These terms shall supersede any conflicting provisions in the original contract.
[Your Company Name] | Horizon Tech Solutions |
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By: [Your Name] | By: John Davis |
Date: August 13, 2050 | Date: August 13, 2050 |
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