Even in good economic times, however, businesses of every size carefully assess their operational structures and may sometimes decide to reduce their workforce. Often, employers terminate older employees who are eligible for retirement, or nearly so, because they generally have been with the company the longest and are paid the highest salaries. Other employers evaluate individual employees on criteria such as performance or experience, or decide to lay off all employees in a particular position, division, or department. When presented with a severance agreement, many employees wonder:
Once signed, a written contract is binding. If you make a change to a signed contract, it needs to be documented. This change is referred to as an amendment. It only takes a few minutes to write an amendment.
Writing one prevents time-consuming and costly legal problems in the future. Create a new document disclosing the fact that an amendment is being made to the original contract. Specify at the beginning of the document the name of all parties bound by the original contract, as well as the date the original contract went into effect.
State the original contract clause that is being amended, word for word. Specify the new amendment that is replacing the original contract wording.
There are several ways to specify the new amendment, such as striking through words of the old contract, inserting words for the new amendment or doing both. Indicate that the only change to the original contract is the amended portion.
Mention that all other portions of the original contract are still in full force and effect. Sign and date the amendment.
Make a copy of the signed amendment to maintain for your own records. Submit a copy of the amendment to all involved parties. There is no need to submit a copy of the amendment to the court of law, unless an actual dispute is filed against you. In this case, a copy of the amendment serves as proof of the agreement between you and the other parties.
Photo Credits signing a contract image by William Berry from Fotolia.What Is a Residential Lease Agreement? A Lease Agreement, also known as a rental lease agreement, tenancy agreement, or rental contract: Allows a tenant to rent a residential property in exchange for regular payments to a landlord.
Don't stop now, you are on a roll, keep getting the stuff to make your movies, and learn, learn, learn ROYALTY FREE MUSIC 40 completely free songs and music for INDIE MOVIEMAKERS (or anyone else to use). A lease is a contractual arrangement calling for the lessee (user) to pay the lessor (owner) for use of an asset.
Property, buildings and vehicles are common assets that are leased. Industrial or business equipment is also leased. Broadly put, a lease agreement is a contract between two parties, the lessor and the lessee. These 23 must-include terms will help prevent an attack on any contract you establish.
Both a contract drafter and a contract reviewer can save some time by first reviewing — together — the Common Draft short-form contract drafts (as well as other clause titles) and discussing just what types of provision they want in their document.
For practical tips on getting your agreement in writing, read Nolo's article 10 Tips for Making Solid Business Agreements and Contracts. If you're looking for an A to Z guide to everything you need to know about contracts, get Nolo's new book Contracts: The Essential Business Desk Reference, .