Yes, a contract can be amended after signing if all the parties involved in a contract agree to do so.
Here are the options
Option 1: Issue a Contract Addendum
A well drafted contract addendum is required to amend a contract after signing. There might be various reasons for altering a contract, such as:
Change in the duration of contract
Change in payment terms and conditions
Change in relationship of existing parties
Change in government rules and regulations
A Contract Addendum is a document that adds or amends clauses of a signed contract.
After signing the original contract, it is possible that the parties wish to change what they have previously agreed, for example a different pricing or some additional obligations that the parties did not foresee.
A Contract Addendum sets out clearly the changes to the original contract, and that apart from those changes the contract will remain in full force and effect.
It is important to establish how and when a contract can be ended and if there are any repercussions for doing so. A Letter Ending a Contract is necessary when the contract must be terminated in writing or when it is a requirement to have a clear written record of when the contract was terminated.
Additionally, a Letter Ending a Contract can create a record of cancellation or can serve as a courtesy to thank others for their services.
A Deed of Novation is a document for one party to transfer all its rights and obligations in an existing contract or agreement to a new third party. The terms of the agreement remain the same, but one of the former parties exits from the agreement and the new third party replaces its position by accepting all the rights and obligations of the outgoing party.
Option 5: Issue a Letter to Amend Employment Contract
There are very minor differences between a contract addendum and an amendment to a contract. They are very similar in terms of their working mechanism however there are subtle differences between two of them. An addendum is used to add things that were not part of the existing contract. For example: if there are no pricing details mentioned in the original contract, an addendum can be useful to add those details.Whereas an amendment to a contract is used when an existing detail needs to be altered. For example: to extend the current payment deadline.