A side contract agreement is a legally binding document that outlines the terms and conditions of a temporary or supplementary agreement between two parties. This type of agreement is often used in business transactions where there is a need for a secondary contract in addition to the primary one. A side contract agreement is particularly useful when a new or additional service is required, or when there is a change in the original agreement that requires clarification.
Here is a sample of a side contract agreement:
Side Contract Agreement
This Side Contract Agreement (“Agreement”) is made on [Date] between [First Party], with a mailing address of [Address], and [Second Party], with a mailing address of [Address] (collectively referred to as the “Parties”).
WHEREAS, the Parties are entering into a primary contract (“Primary Contract”) that outlines the terms and conditions of their business relationship.
WHEREAS, the Parties have agreed to enter into this Side Contract Agreement to provide additional services or to clarify the terms of the Primary Contract.
NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, the Parties agree as follows:
The Second Party agrees to provide the following additional services to the First Party, as outlined in this Side Contract Agreement.
The First Party agrees to pay the Second Party the amount of [Amount] for the services outlined in this Side Contract Agreement.
This Side Contract Agreement shall be effective upon the date of execution and shall continue until the services outlined in this agreement are completed or until terminated by either Party.
4. Independent Contractors
The Parties acknowledge that they are independent contractors and that nothing in this Agreement creates an employer-employee relationship.
The Parties agree to keep all the terms and conditions of this Agreement confidential.
6. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the state of [State], and any legal action arising from this Agreement shall be brought in [Court] in the jurisdiction of [City].
7. Entire Agreement
This Agreement and any exhibits attached hereto constitute the entire agreement between the Parties and supersede all prior and contemporaneous agreements and understandings, whether written or oral.
This Agreement may be amended or modified only in writing and signed by both Parties.
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first above written.[First Party]
Having a side contract agreement in place can help clarify the terms of a primary contract and provide additional protection for both parties involved. A well-written side contract agreement should be clear, concise, and legally binding. With this sample as a guide, businesses can create a side contract agreement that suits their specific needs and helps them achieve their business goals.