This form provides for an amendment to an existing executive employment agreement. The company desires to amend the agreement to provide for an increase in certain stock options in return for a reduction in the executives salary. The company also desires to encourage the executive to strive for the profitability and success of the company and desires to assure both itself and the executive of the continuity of management in the event of any actual or threatened change in control of the company.
Texas Amendment to Section 5(c) of Employment Agreement with copy of Agreement - Blank
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US-C-15-157E
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How to fill out Texas Amendment To Section 5(c) Of Employment Agreement With Copy Of Agreement - Blank?
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A contract amendment vs addendum are terms used when changing or adding to an original document. An amendment makes changes to an already existing agreement whereas an addendum adds an additional document to the existing agreement.
Writing a Contract AddendumName the parties to the contract. Indicate the addendum's effective date, using the same date format used in the original contract. Indicate the elements of the original contract that the addendum intends to change. Concisely but clearly describe the desired changes.
An addition to and/or alteration to the Constitution. The First Amendment guarantees freedom of religion, speech, press, assembly, and petition. The Thirteenth Amendment to the United States Constitution abolished slavery.
Completing the AmendmentIntroductory paragraph. Type your name or the name of your company and the other side's name (an individual or a company).Describe the amendment(s).The concluding paragraph.Proofread and sign your amendment.Managing Amendments.
A contract addendum cannot be legally enforced unless both parties fully understand the new terms and agree to them in writing. All parties who signed the original contract must also sign the addendum; if one or more parties are unavailable, they can appoint agents who have the authority to sign on their behalf.
An addendum is an attachment to a contract that modifies the terms and conditions of the original contract. Addendums are used to efficiently update the terms or conditions of many types of contracts.
An amendment is typically used to change something that's part of an original contract. Think of amendments as modifications to the earliest agreement (for example, altering an agreed-upon deadline). An addendum is used to clarify and add things that were not initially part of the original contract or agreement.
Always put a contract amendment in writing and make sure both parties sign and date it. Reference the title of the contract, if applicable; its original parties; and original signing date, so that it is clear what document you are amending. Attach the amendment to the original contract.
The effective date should always be filled in on page 8 of the contract and the responsibility for completion falls to the Realtors involved in the transaction.
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