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Extension Agreement for the United States

Extension Agreement Template for United States

An Extension Agreement is a legal document used in the United States to formally extend the duration of an existing contract or agreement. It maintains the original terms and conditions while modifying the termination date, and may include additional amendments or modifications to the original agreement as needed. This document ensures continuous legal coverage and compliance with U.S. contract law while avoiding the need to draft an entirely new agreement.

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What is a Extension Agreement?

The Extension Agreement is commonly used when parties wish to continue their contractual relationship beyond the original termination date. This document type is particularly valuable in the U.S. legal context as it provides a streamlined method to extend existing arrangements without the complexity of creating new contracts. An Extension Agreement typically includes the extension period, any modified terms, and confirmation of continuing obligations, while ensuring compliance with relevant state and federal laws.

What sections should be included in a Extension Agreement?

1. Parties: Identification of all parties involved in the extension agreement

2. Background: Reference to original agreement and reason for extension

3. Definitions: Key terms used in the extension agreement

4. Extension Terms: Specific details of the extension period and any modified terms

5. Continued Effect: Confirmation that all other terms of original agreement remain in effect

6. Execution: Signature blocks and execution details

What sections are optional to include in a Extension Agreement?

1. Modified Terms: Section detailing any changes to original agreement terms, used when original terms need modification alongside extension

2. Additional Consideration: Section specifying any new payment or consideration for extension, used when extension requires additional payment

3. Compliance Updates: Section covering new regulatory requirements or compliance matters, used when regulations have changed since original agreement

What schedules should be included in a Extension Agreement?

1. Schedule A - Original Agreement: Copy of the agreement being extended

2. Schedule B - Updated Payment Schedule: Modified payment terms and schedule for the extension period

3. Schedule C - Modified Deliverables: Updated scope of work or deliverables for the extension period

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

United States

Publisher

Ƶ

Document Type

Agreement Contract

Cost

Free to use
Clauses












Industries

Uniform Commercial Code (UCC): Fundamental commercial law that governs contractual transactions involving goods across U.S. states. Must be considered if the original agreement involves the sale or lease of goods.

State Contract Laws: State-specific contract legislation and case law, as contract law is primarily governed at the state level rather than federal level.

Statute of Frauds: Legal requirement that certain contracts must be in writing to be enforceable, particularly relevant if the extension makes the total contract term longer than one year.

Statute of Limitations: State-specific time limits within which legal action must be taken for breach of contract, which may affect the extension terms.

Industry-Specific Regulations: Federal and state regulatory requirements specific to the industry in which the contract operates, including licensing and compliance requirements.

Fair Labor Standards Act: Federal law governing employment terms and conditions, relevant if the extension agreement relates to employment contracts.

State Labor Laws: State-specific employment regulations that may affect employment-related contract extensions.

Securities Laws: Federal and state regulations governing financial instruments and securities, relevant if the extension involves financial contracts or investments.

Consumer Protection Laws: Federal and state laws protecting consumer rights, must be considered if the extension agreement involves consumer contracts.

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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