Not the CFP Committee - the CFP Management Committee, which is huge distinction, and one that the media doesn't really talk about much.
I explained it in an earlier post in the Irish Tears thread, which I am posting below. It is part of the negotiations the SEC/Big 10 are pushing for with the 4+4+2+2+1 v. other potential postseason models, so no, nothing is final yet. That's why it is simply contained in an MOU. MOUs are essentially precontracts to the actual contracts. Sometimes they are binding (if they have all the essential and legally-binding parts of a contract), but more often than, they are not (because they are missing one or more of those parts).
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Let me back up.
The CFP is governed by the CFP Management Committee, which includes the 10 conference commissioners and ND's AD.
https://collegefootballplayoff.com/sports/2019/4/3/governance.aspx
The SEC and Big 10, in the spring, threatened to split and create their own postseason if they weren't given control and allowed to run roughshod over the whole thing. So everyone on the CFP MC signed an MOU that agreed to what they wanted.
The conferences are pushing to assign multiple automatic qualifiers per league, with as many as four each for themselves. In short, a plethora of changes are on the table.
sports.yahoo.com
The ideas for what the SEC/B10 wants are contained within that MOU. As is ND's guarantee to get into the playoff as long as they are ranked within the Top 14. It's basically a quid pro quo, and the ACC and Big 12 are basically watching everything from the sidelines.
Now, back to your initial question of MOU's being legally enforceable...sometimes they are. It depends on whether or not they have the requirements of a valid and enforceable contract - 1) offer, 2) acceptance, and 3) consideration. So if this MOU has those three things, a court could find that this MOU is indeed a valid and legally enforceable contract. But most of the times, MOUs are not, because they don't have consideration (usually money exchange).
Hope that clears it up a bit.