Ask your lawyer whether you want to include an express statement [1] that existing rights and obligations --- and, importantly, any dispute-resolution procedure

Ask your lawyer whether you want to include an express statement [1] that existing rights and obligations --- and, importantly, any dispute-resolution procedures --- will continue to be governed by the old agreement. That could be important in avoiding a court holding that the agreement is "illusory," and thus unenforceable, because of your power to change it at any time. [1] See, e.g., the clause and extensive annotations at http://www.commondraft.org/#AmendUnilateralCls http://www.commondraft.org/#AmendUnilateralCls (self-cite).