Once you have active members on a membership plan, you are unable to update the price. In order to update membership prices, you'll need to do the following:
Step 1: Create a new Membership Plan with the new pricing terms/contract
Step 2: Disable the old membership plan by going to Membership Plans and Click the old Membership Plan > Uncheck Active and Save Settings. NOTE: Disabling a membership plan only disables it for future purchases. All members on the membership will remain on the plan.
Step 3: Cancel the old membership plan on the member's profile by going to the member's profile and click cancel.
Step 4: Add New Membership Plan to the member's profile.