Changes to Option A Clause Samples
The "Changes to Option A" clause defines the process and conditions under which modifications can be made to a previously agreed-upon Option A within a contract. Typically, this clause outlines who has the authority to propose changes, the required notice period, and any limitations or procedures for approving such changes. For example, it may specify that both parties must consent in writing before any alterations to Option A take effect. The core function of this clause is to provide a clear and structured method for handling adjustments, thereby preventing disputes and ensuring that any changes are mutually agreed upon and properly documented.
Changes to Option A. The Death Benefit Option may be changed to Option A at any time. On the effective date of change, the Specified Amount will be changed as follows:
