What is a Contract Extension Agreement?
Create a Contract Extension Agreement to increase the duration of your existing contract. If you're happy with an existing contract that's about to end, or you want to make some changes that include extending the termination date, it's often simpler to have a Contract Extension Agreement than to write a whole new contract or an additional Contract Amendment document. Your Contract Extension Agreement should include details like: the effective date of the extension agreement; the names and addresses of the parties involved, and their signatories; the name and date of the original contract; the end date of the original contract; the end date of this extension; and any amendments to any provisions of the original document (be specific about which part is being changed, added to, or deleted). You may wish to attach the original document to the extension agreement, so you can clearly see what adjustments were made.
When to use a Contract Extension Agreement:
- Your contract is about to end and the parties wish to extend the contract beyond the original end date.
- The parties wish to set a new termination date and make other changes to the original contract.
Contract Extension Agreement
This CONTRACT EXTENSION AGREEMENT ("Extension") is dated as of (the "Effective Date"), by and between , located at , , and , located at , , (collectively, the "Parties").
WHEREAS the Parties entered into a on (the "Original Contract").
WHEREAS the Parties hereby agree to extend the term of the Original Contract in accordance with the terms of the Original Contract as well as the terms provided herein.
In consideration of the mutual covenants contained herein, each of and mutually covenant and agree as follows:
|-||The Original Contract, which is attached hereto as a part of this Extension, will end on .|
|-||The parties agree to extend the Original Contract for an additional period, which will begin immediately upon the expiration of the original time period and will end on .|
|-||In addition, the following provisions of the Original Contract are amended as described herein:|
|-||This Extension binds and benefits both Parties and any successors or assigns. This document, including the attached Original Contract, is the entire agreement between the Parties.|
All other terms and conditions of the Original Contract remain unchanged.
This Agreement shall be signed on behalf of by , and on behalf of by .