Amendment to Section 3: Compensation and Audit Clause Samples
The "Amendment to Section 3: Compensation and Audit" clause modifies the original terms related to payment and the right to review financial records. Typically, this clause updates how compensation is calculated, paid, or adjusted, and may revise the procedures or scope for auditing relevant financial documents. Its core function is to ensure that both parties have a clear, updated understanding of payment obligations and audit rights, thereby reducing the risk of disputes over compensation or financial transparency.
Amendment to Section 3: Compensation and Audit the License Agreement is hereby amended by adding the following new paragraph E: