Side Agreements are commonly used in Austrian business practice when parties need to modify or supplement an existing agreement without completely revising it. This document type is particularly useful when dealing with specific variations, clarifications, or additions to the main contract terms that emerge after the original agreement is signed. The Side Agreement must comply with Austrian law, particularly the Austrian Civil Code (ABGB), and should clearly reference the main agreement it supplements. It's essential in situations where confidentiality is required for certain terms, when addressing specific operational requirements, or when documenting additional arrangements between the parties. The document typically includes references to the main agreement, specific modifications or additions, and provisions ensuring its enforceability under Austrian law.
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1. Parties: Identification of the contracting parties, ensuring they match the parties in the main agreement
2. Background: Reference to the main agreement, date of execution, and reason for this side agreement
3. Definitions: Key terms used in the side agreement, including reference to definitions in the main agreement where applicable
4. Relationship to Main Agreement: Clear statement of how this side agreement relates to and affects the main agreement
5. Subject Matter: Specific details of the modification, addition, or clarification to the main agreement
6. Duration and Effect: Term of the side agreement and how it aligns with the main agreement's duration
7. Confidentiality: Provisions regarding the confidential nature of the side agreement, if applicable
8. Governing Law: Confirmation of Austrian law governance, matching the main agreement's jurisdiction
9. Final Provisions: Standard closing provisions including severability and entire agreement clauses
1. Consideration: Include when the side agreement involves new or modified financial terms
2. Performance Modifications: Include when changing specific performance obligations from the main agreement
3. Compliance Requirements: Include when the side agreement involves regulatory or compliance matters
4. Dispute Resolution: Include when dispute resolution mechanisms differ from the main agreement
5. Third Party Rights: Include when the side agreement affects or involves third parties
6. Reporting Requirements: Include when adding or modifying reporting or notification obligations
1. Schedule 1 - Modified Terms: Detailed list of specific terms being modified from the main agreement
2. Schedule 2 - Additional Requirements: Any new requirements or specifications being added through the side agreement
3. Appendix A - Referenced Documents: Copies of relevant sections from the main agreement being modified
4. Appendix B - Form Documents: Any new forms or templates introduced by the side agreement
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