Variation Agreement: Definition, Example
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What is a Variation Agreement?
A variation agreeement is a contract that two or more parties sign when they agree to do something differently than an original contract stipulates. Under the agreement, the specific terms mentioned within are modified while the rest of the original contract remains enforceable under the original conditions. This type of agreement is ideal for making it easy and quick to make minor or major changes to the terms of an original agreement.
The purpose of a variation agreement is to ensure that all parties to the original contract agree to make the change, and that they understand and acknowledge what the change is. This protects the interests of all parties, which encourages an amicable business relationship.
Variation Agreement Sample
1) | PORTON BIOPHARMA LIMITED of Porton Down, Salisbury, Wiltshire SP4 OPG, United Kingdom ("PBL"); and |
2) | JAZZ PHARMACEUTICALS FRANCE SAS of City One, 84 Quai Charles de Gaulle, 69006 Lyon, France ("Jazz") |
A) | PBL and Jazz are parties, through succession and assignment, to a Royalty Bearing Licence Agreement dated 22 July 2005 as further amended on 22 December 2009, 23 March 2012 and 8 August 2012 (the "RBLA"); |
B) | PBL and Jazz wish to amend the RBLA such that the term of the RBLA will not automatically renew with effect from 31 December 2018; |
C) | Any capitalised term used but not defined herein shall have the same meaning given to such term in the RBLA. |
1. | Clause 13.1 of the RBLA is deleted and replaced by the following: |
2. | Clause 16.4 of the RBLA shall have the words "or email' inserted after the words "fax or registered letter' |
3. | A new Sub-Clause 16.5.3 shall be added as follows: |
4. | A new Sub-Clause 16.6.3 shall be added as follows: |
5. | This Variation is made in accordance with Clause 16.2 of the RBLA. Other than as set out in this Variation, the RBLA (as amended on 22 December 2009, 23 March 2012 and 8 August 2012) shall continue to be binding upon each Party. |
Reference:
Security Exchange Commission - Edgar Database, EX-10.5 2 jazzq42018ex105.htm CONTRACT VARIATION AGREEMENT, Viewed October 14, 2022, View Source on SEC.
Who Helps With Variation Agreements?
Lawyers with backgrounds working on variation agreements work with clients to help. Do you need help with a variation agreement?
Post a project in ContractsCounsel's marketplace to get free bids from lawyers to draft, review, or negotiate variation agreements. All lawyers are vetted by our team and peer reviewed by our customers for you to explore before hiring.
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Meet some of our Variation Agreement Lawyers
Brian R.
Brian C. Restivo, the managing member of Restivo Legal, PLLC, has been licensed by the State Bar of Texas and continuously practicing as an attorney since November of 2000. Over these years, he has represented customers across the spectrum - from a Fortune 500 company to individuals - and is seasoned at tailoring his services to the unique needs of each customer.
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Antonella C.
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Jeffrey J.
I have been in business development for 15 years before becoming an attorney. As an attorney, I help companies navigate legal challenges that they face.
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Anthony V.
Anthony M. Verna III, is the managing partner at Verna Law, P.C. With a strong focus on Trademark, Copyright, Domain Names, Entertainment, and Advertising law, Verna Law, P.C. strives to provide all Intellectual Property services a modern business of any size may need to market and promote itself better. From the very early concept stage, Verna Law, P.C. can conduct a comprehensive, all-encompassing search and analysis on any proposed trademark to head off complications. Once the proposed concept enters the Alpha stage, Verna Law, P.C. can seamlessly switch to handling registration, protection, and if needed, defense of registered trademarks, copyrights, and domain names, as well as prosecution of entities violating said rights. Verna Law, P.C. also provides intellectual property counseling and services tailored to fit into your business’ comprehensive growth strategy. This shows as many of Verna Law, P.C.’s clients are international: from China, the United Kingdom, Canada, and Germany, Verna Law’s reach is worldwide. Additionally, Verna Law, P.C., can handle your business’ Entertainment and Advertising law needs by helping your business create advertising and promotions that keep competitors and regulators at bay. Located in the shadow of New York City, Verna Law, P.C. has a global reach that will provide clients with the most vigorous Intellectual Property advocate available. Anthony M. Verna III is a member of the New York and New Jersey Bars, as well as the U.S. District Court Southern District of New York. He is a sought-after business speaker, including regular appearances at the World Board Gaming Championships, Business Marketing Association of New Jersey, and Columbian Lawyers Association.
Cory L.
NA
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I am an experienced New York Attorney pleased to offer my services to clients who are seeking assistance with startup consulting and/or business related legal work. My expertise in both of these areas allows me to provide comprehensive legal support to entrepreneurs and businesses of all sizes.
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