Term Clause Example with 11 Variations from Business Contracts
This page contains Term clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Term. (a) Term and Annual Renewal. The initial term of this Agreement will begin as of the Effective Date and continue for a period of three years (the "Term"). Commencing on the first anniversary of the Effective Date and continuing on each subsequent anniversary of the Effective Date (each anniversary referred to as a "Renewal Date"), the Term will extend automatically for one additional year, so that the Term will be three (3) years from the applicable Renewal Date, unless either the Bank or the Ex...ecutive, by written notice to the other given at least thirty (30) days prior to the Renewal Date, notifies the other of its intent not to extend the Term. In the event either party provides notice not to extend the Term, the Term will become fixed and terminate as of the last day of the then current Term. For avoidance of doubt, any extension to the Term will become the new "Term" for purposes of this Agreement. At least thirty (30) days prior to a Renewal Date, the disinterested members of the Board of Directors will conduct a comprehensive performance evaluation and review of the Executive for purposes of determining whether to take action regarding non-renewal of the Agreement, and the results thereof will be included in the minutes of the meeting of the Board of Directors. (b) Change in Control. Notwithstanding the foregoing, in the event the Bank or the Company has entered into an agreement to effect a transaction that would be considered a Change in Control, as defined in Section 5, the Term of this Agreement will automatically extend so that it expires no sooner than two (2) years beyond the effective date of the Change in Control, subject to extensions as set forth in Section 2(a). (c) Continued Employment Following Expiration of Term. Nothing in this Agreement will mandate or prohibit a continuation of the Executive's employment following the expiration of the Term of this Agreement.View More
Variations of a "Term" Clause from Business Contracts
Term. (a) Term and Annual Renewal. The initial term of this Agreement will begin as of the Effective Date (i.e., January 1, 2023) and continue for a period of three years (the "Term"). Commencing on the first anniversary date of the Effective Date (the "Renewal Date"), and continuing on each subsequent anniversary of the Effective Renewal Date (each anniversary referred to as a "Renewal Date"), thereafter, the Term will extend automatically term of this Agreement shall renew for one an additional year..., so year such that the Term will be remaining term of this Agreement is three (3) years from years; provided, however, that in order for this Agreement to renew, the applicable disinterested members of the Board of Directors must take the following actions within the following time frames prior to each Renewal Date, unless either the Bank or the Executive, by written notice to the other given Date: (i) at least thirty (30) days prior to the Renewal Date, notifies the other of its intent not to extend the Term. In the event either party provides notice not to extend the Term, the Term will become fixed and terminate as of the last day of the then current Term. For avoidance of doubt, any extension to the Term will become the new "Term" for purposes of this Agreement. At least thirty (30) days prior to a Renewal Date, the disinterested members of the Board of Directors will conduct or review a comprehensive performance evaluation and review of the Executive for purposes of determining whether to take action regarding extend the Term; and (ii) affirmatively approve the renewal or non-renewal of the Agreement, and the results thereof Term, which decision will be included in the minutes of the meeting of the Board of Directors. If the decision of the disinterested members of the Board of Directors is not to renew the Term, then the Board of Directors will provide the Executive with a written notice of non-renewal ("Non-Renewal Notice") prior to the applicable Renewal Date and the Agreement will expire at the end of the current Term. (b) Change in Control. Notwithstanding the foregoing, in the event the Bank or the Company has entered into an agreement to effect a transaction that would be considered a Change in Control, as defined in Section 5, the Term of this Agreement will automatically extend so that it expires no sooner less than two (2) years beyond the effective date of the Change in Control, subject to extensions as set forth in Section 2(a). (c) Continued Employment Following Expiration of Term. Nothing in this Agreement will shall mandate or prohibit a continuation of the Executive's employment following the expiration of the Term Term. (d) Location. The Bank shall provide the Executive, at his principal place of employment, with a private office, secretarial services and other support services and facilities suitable to the Executive's employment with the Bank and necessary or appropriate in connection with the performance of the Executive's duties under this Agreement. The Bank shall also provide the Executive with items reasonably necessary for the Executive to perform the Executive's duties under this Agreement at a home office. Except during periods of approved leave, the Executive will spend at least two days physically present in the main office of the Bank and may work remotely the other three days of the week. View More
Term. (a) Term and Annual Renewal. The initial term of this Agreement will and the period of Executive's employment hereunder shall begin as of the Effective Date and shall continue for a period of three years through December 31, 2020 (the "Term"). Commencing on the first anniversary of the Effective Date January 1, 2019 and continuing on each subsequent anniversary of the Effective Date (each anniversary referred to as a January 1st thereafter (the "Renewal Date"), the Term will extend automatically... for one additional year, so that the Term will be three (3) years from the applicable such Renewal Date, unless either the Bank or the Executive, Executive by written notice to the other given at least thirty (30) ninety (90) days prior to the such Renewal Date, Date notifies the other of its intent not to extend the Term. same. In the event either party provides that notice not to extend is given by either the Term, Bank or the Term will become fixed and Executive, this Agreement shall terminate as of the last day of the then current Term. For avoidance of doubt, any extension to the Term will become the new "Term" for purposes of this Agreement. At least thirty (30) days prior to a Renewal Date, the disinterested members of the Board of Directors will conduct a comprehensive performance evaluation and review of the Executive for purposes of determining whether to take action regarding non-renewal of the Agreement, and the results thereof will be included in the minutes of the meeting of the Board of Directors. (b) Change in Control. Notwithstanding the foregoing, in the event the Bank or the Company has entered into an agreement to effect a transaction that would be considered a Change in Control, Control as defined in under Section 5, 5 hereof, the Term of this Agreement will be extended automatically extend so that it expires is scheduled to expire no sooner less than two (2) years beyond the effective date of the Change in Control, subject to extensions as set forth in Section 2(a). above. (c) Continued Employment Following Expiration of Term. Nothing in this Agreement will shall mandate or prohibit a continuation of the Executive's employment following the expiration of the Term term of this Agreement. View More
Term. (a) Term and Annual Renewal. The initial term of this Agreement will begin as of the Effective Date and continue for a period of three (3) years (the "Term"). Commencing on the first anniversary of the Effective Date and continuing on each subsequent anniversary of the Effective Date (each anniversary referred to as a "Renewal Date"), the Term will extend automatically for one additional year, so that the Term will be three (3) years from the applicable Renewal Date, unless either the Bank or th...e Executive, by written Upon notice to the other given Executive at least thirty (30) days prior to before the Renewal Date, notifies the other expiration of its intent not to extend the Term. In the event either party provides notice not to extend the Term, the Bank may extend the Term will become fixed and terminate as of the last day of the then current Term. for an additional twelve months. For avoidance of doubt, any extension to the Term will become the new "Term" for purposes of this Agreement. At least thirty (30) days prior to a Renewal Date, the disinterested members of the Board of Directors will conduct a comprehensive performance evaluation and review of the Executive for purposes of determining whether to take action regarding non-renewal of the Agreement, and the results thereof will be included in the minutes of the meeting of the Board of Directors. (b) Change in Control. Notwithstanding the foregoing, in the event the Bank or the Company has entered into an agreement to effect a transaction that would be considered a Change in Control, as defined in Section 5, the Term of this Agreement will automatically extend so that it expires no sooner less than two (2) years beyond the effective date of the Change in Control, subject to extensions as set forth in Section 2(a). (c) Continued Employment Following Expiration of Term. Nothing in this Agreement will mandate or prohibit a continuation of the Executive's employment following the expiration of the Term of this Agreement. Term. View More
Term. (a) Term and Annual Renewal. The initial Subject to Sections 2(b) and 2(c), the term of this Agreement and the period of Executive's employment hereunder will begin as of the Effective Date and will continue for a period of three years through December 31, 2024 (the "Term"). Commencing on the first anniversary of the Effective Date January 1, 2023 and continuing on each subsequent anniversary of the Effective Date (each anniversary referred to as a January 1st thereafter (the "Renewal Date"), th...e Term will extend automatically for one additional year, so that the Term will be three (3) years from the applicable such Renewal Date, unless either the Bank or the Executive, Executive by written notice to the other given at least thirty (30) 30 days prior to the such Renewal Date, Date notifies the other of its intent not to extend the Term. In the event either party provides same. If notice not to extend is given by either the Term, the Term Bank or Executive, this Agreement will become fixed and terminate as of the last day of the then current Term. For avoidance of doubt, any extension Reference herein to the Term will become the new "Term" for purposes of this Agreement. shall refer to both such initial term and such extended terms. At least thirty (30) 30 days prior to a each Renewal Date, the disinterested members of the Board of Directors will conduct a comprehensive performance evaluation and review of the Executive for purposes of determining whether to take action regarding non-renewal of the Agreement, and the results thereof will be included in the minutes of the meeting of the Board of Directors. Board's meeting. (b) Change in Control. Notwithstanding anything in this Agreement to the foregoing, contrary, in the event the Bank or the Company has entered into an agreement to effect a transaction that would be considered a Change in Control, Control as defined in under Section 5, 5 hereof, the Term of this Agreement will shall be extended automatically extend so that it expires is scheduled to expire no sooner less than two (2) years beyond the effective date time of the Change in Control, subject to extensions as set forth above in Section 2(a). (c) Continued Employment Following Expiration of Term. Nothing in this Agreement will mandate mandates or prohibit prohibits a continuation of the Executive's employment following the expiration of the Term term of this Agreement. Agreement, upon the terms and conditions as the Bank and Executive may mutually agree. View More
Term. (a) Term and Annual Renewal. The initial term of this Agreement will begin as of the Effective Date and continue for a period of three two years (the "Term"). Commencing on the first anniversary date of the Effective Date this Agreement (the "Renewal Date") and continuing on each subsequent anniversary of the Effective Renewal Date (each anniversary referred to as a "Renewal Date"), thereafter, the Term will extend automatically term of this Agreement shall renew for one an additional year, so y...ear such that the Term will be three (3) years from remaining term of this Agreement is two (2) years; provided, however, that in order for this Agreement to renew, the applicable disinterested members of the Board of Directors must take the following actions within the following time frames prior to each Renewal Date, unless either the Bank or the Executive, by written notice to the other given Date: (i) at least thirty (30) days prior to the Renewal Date, notifies the other of its intent not to extend the Term. In the event either party provides notice not to extend the Term, the Term will become fixed and terminate as of the last day of the then current Term. For avoidance of doubt, any extension to the Term will become the new "Term" for purposes of this Agreement. At least thirty (30) days prior to a Renewal Date, the disinterested members of the Board of Directors will conduct or review a comprehensive performance evaluation and review of the Executive for purposes of determining whether to take action regarding extend the Term; and (ii) affirmatively approve the renewal or non-renewal of the Agreement, and the results thereof Term, which decision will be included in the minutes of the meeting of the Board of Directors. If the decision of the disinterested members of the Board of Directors is not to renew the Term, then the Board of Directors will provide the Executive with a written notice of non-renewal ("Non-Renewal Notice") prior to the applicable Renewal Date and the Agreement will expire at the end of the current Term. (b) Change in Control. Notwithstanding the foregoing, in the event the Bank or the Company has entered into an agreement to effect a transaction that would be considered a Change in Control, as defined in Section 5, the Term of this Agreement will automatically extend so that it expires expire no sooner less than two (2) years beyond the effective date of the Change in Control, subject to extensions as set forth in Section 2(a). (c) Continued Employment Following Expiration of Term. Nothing in this Agreement will shall mandate or prohibit a continuation of the Executive's employment following the expiration of the Term of this Agreement. Term. View More
Term. (a) Term and Annual Renewal. The initial term of this Agreement will begin as of the Effective Date and continue for a period of three two years (the "Term"). Commencing on the first anniversary date of the Effective Date this Agreement (the "Renewal Date") and continuing on each subsequent anniversary of the Effective Renewal Date (each anniversary referred to as a "Renewal Date"), thereafter, the Term will extend automatically term of this Agreement shall renew for one an additional year, so y...ear such that the Term will be three (3) years from remaining term of this Agreement is two (2) years; provided, however, that in order for this Agreement to renew, the applicable disinterested members of the Board of Directors must take the following actions within the following time frames prior to each Renewal Date, unless either the Bank or the Executive, by written notice to the other given Date: (i) at least thirty (30) days prior to the Renewal Date, notifies the other of its intent not to extend the Term. In the event either party provides notice not to extend the Term, the Term will become fixed and terminate as of the last day of the then current Term. For avoidance of doubt, any extension to the Term will become the new "Term" for purposes of this Agreement. At least thirty (30) days prior to a Renewal Date, the disinterested members of the Board of Directors will conduct or review a comprehensive performance evaluation and review of the Executive for purposes of determining whether to take action regarding extend the Term; and (ii) affirmatively approve the renewal or non-renewal of the Agreement, and the results thereof Term, which decision will be included in the minutes of the meeting of the Board of Directors. If the decision of the disinterested members of the Board of Directors is not to renew the Term, then the Board of Directors will provide the Executive with a written notice of non-renewal ("Non-Renewal Notice") prior to the applicable Renewal Date and the Agreement will expire at the end of the current Term. (b) Change in Control. Notwithstanding the foregoing, in the event the Bank or the Company has entered into an agreement to effect a transaction that would be considered a Change in Control, as defined in Section 5, the Term of this Agreement will automatically extend so that it expires no sooner less than two (2) years beyond the effective date of the Change in Control, subject to extensions as set forth in Section 2(a). (c) Continued Employment Following Expiration of Term. Nothing in this Agreement will shall mandate or prohibit a continuation of the Executive's employment following the expiration of the Term of this Agreement. Term. View More
Term. (a) Term and Annual Renewal. The initial term of this Agreement and the period of Executive's employment hereunder will begin as of the Effective Date and will continue for a period of three years through December 31, 2022 (the "Term"). Commencing on the first anniversary of the Effective Date January 1, 2021 and continuing on each subsequent anniversary of the Effective Date (each anniversary referred to as January 1st thereafter (each, a "Renewal Date"), the Term will extend automatically for ...one additional year, so that the Term will be three (3) years from the applicable such Renewal Date, unless either the Bank or the Executive, Executive by written notice to the other given at least thirty (30) 30 days prior to the such Renewal Date, Date notifies the other of its intent not to extend the Term. same. In the event either party provides that notice not to extend is given by either the Term, the Term Bank or Executive, this Agreement will become fixed and terminate as of the last day of the then current Term. For avoidance of doubt, any extension to the Term will become the new "Term" for purposes of this Agreement. At least thirty (30) 30 days prior to a the Renewal Date, the disinterested members of the Board of Directors will conduct a comprehensive performance evaluation and review of the Executive for purposes of determining whether to take action regarding non-renewal of the Agreement, and the results thereof will be included in the minutes of the meeting of the Board of Directors. Board's meeting. (b) Change in Control. Notwithstanding the foregoing, in the event the Bank or the Company has entered into an agreement to effect a transaction that would be considered a Change in Control, Control as defined in under Section 5, 5 hereof, the Term of this Agreement will be extended automatically extend so that it expires is scheduled to expire no sooner less than two (2) years beyond the effective date of the Change in Control, subject to extensions as set forth in Section 2(a). above. (c) Continued Employment Following Expiration of Term. Nothing in this Agreement will mandate or prohibit a continuation of the Executive's employment following the expiration of the Term term of this Agreement. View More
Term. (a) Term and Annual Renewal. The initial term of this Agreement and the period of Executive's employment hereunder will begin as of the Effective Date and will continue for a period of three years through December 31, 2021 (the "Term"). Commencing on the first anniversary of the Effective Date January 1, 2020 and continuing on each subsequent anniversary of the Effective Date (each anniversary referred to as January 1st thereafter (each, a "Renewal Date"), the Term will extend automatically for ...one additional year, so that the Term will be three (3) years from the applicable such Renewal Date, unless either the Bank or the Executive, Executive by written notice to the other given at least thirty (30) 30 days prior to the such Renewal Date, Date notifies the other of its intent not to extend the Term. same. In the event either party provides that notice not to extend is given by either the Term, the Term Bank or Executive, this Agreement will become fixed and terminate as of the last day of the then current Term. For avoidance of doubt, any extension to the Term will become the new "Term" for purposes of this Agreement. At least thirty (30) 30 days prior to a the Renewal Date, the disinterested members of the Board of Directors will conduct a comprehensive performance evaluation and review of the Executive for purposes of determining whether to take action regarding non-renewal of the Agreement, and the results thereof will be included in the minutes of the meeting of the Board of Directors. Board's meeting. (b) Change in Control. Notwithstanding the foregoing, in the event the Bank or the Company has entered into an agreement to effect a transaction that would be considered a Change in Control, Control as defined in under Section 5, 5 hereof, the Term of this Agreement will be extended automatically extend so that it expires is scheduled to expire no sooner less than two (2) years beyond the effective date of the Change in Control, subject to extensions as set forth in Section 2(a). above. (c) Continued Employment Following Expiration of Term. Nothing in this Agreement will mandate or prohibit a continuation of the Executive's employment following the expiration of the Term term of this Agreement. View More
Term. (a) Term and Annual Renewal. The initial term of this Agreement and the period of Executive's employment hereunder will begin as of the Effective Date and will continue for a period of three years through December 31, 2021 (the "Term"). Commencing on the first anniversary of the Effective Date January 1, 2020 and continuing on each subsequent anniversary of the Effective Date (each anniversary referred to as a January 1st thereafter (the "Renewal Date"), the Term will extend automatically for on...e additional year, so that the Term will be three (3) years from the applicable such Renewal Date, unless either the Bank or the Executive, Executive by written notice to the other given at least thirty (30) 30 days prior to the such Renewal Date, Date notifies the other of its intent not to extend the Term. same. In the event either party provides that notice not to extend is given by either the Term, Bank or the Term Executive, this Agreement will become fixed and terminate as of the last day of the then current Term. For avoidance of doubt, any extension to the Term will become the new "Term" for purposes of this Agreement. At least thirty (30) 30 days prior to a the Renewal Date, the disinterested members of the Board of Directors will conduct a comprehensive performance evaluation and review of the Executive for purposes of determining whether to take action regarding non-renewal of the Agreement, and the results thereof will be included in the minutes of the meeting of the Board of Directors. Board's meeting. (b) Change in Control. Notwithstanding the foregoing, in the event the Bank or the Company has entered into an agreement to effect a transaction that would be considered a Change in Control, Control as defined in under Section 5, 5 hereof, the Term of this Agreement will be extended automatically extend so that it expires is scheduled to expire no sooner less than two (2) years beyond the effective date of the Change in Control, subject to extensions as set forth in Section 2(a). above. (c) Continued Employment Following Expiration of Term. Nothing in this Agreement will mandate or prohibit a continuation of the Executive's employment following the expiration of the Term term of this Agreement. View More
Term. (a) Term and Annual Renewal. The initial term of this Agreement will and the period of Executive's employment hereunder shall begin as of the Effective Date and shall continue for a period of three years through December 31, 2023 (the "Term"). Commencing on the first anniversary of the Effective Date January 1, 2022 and continuing on each subsequent anniversary of the Effective Date (each anniversary referred to as a January 1st thereafter (the "Renewal Date"), the Term will extend automatically... for one additional year, so that the Term will be three (3) years from the applicable such Renewal Date, unless either the Bank or the Executive, Executive by written notice to the other given at least thirty (30) days prior to the such Renewal Date, Date notifies the other of its intent not to extend the Term. same. In the event either party provides that notice not to extend is given by either the Term, Bank or the Term will become fixed and Executive, this Agreement shall terminate as of the last day of the then current Term. For avoidance of doubt, any extension to the Term will become the new "Term" for purposes of this Agreement. At least thirty (30) 30 days prior to a the Renewal Date, the disinterested members of the Board of Directors will conduct a comprehensive performance evaluation and review of the Executive for purposes of determining whether to take action regarding non-renewal of the Agreement, and the results thereof will be included in the minutes of the meeting of the Board of Directors. Board's meeting. (b) Change in Control. Notwithstanding the foregoing, in the event the Bank or the Company has entered into an agreement to effect a transaction that would be considered a Change in Control, Control as defined in under Section 5, 5 hereof, the Term of this Agreement will be extended automatically extend so that it expires is scheduled to expire no sooner less than two (2) years beyond the effective date of the Change in Control, subject to extensions as set forth in Section 2(a). above. (c) Continued Employment Following Expiration of Term. Nothing in this Agreement will mandate or prohibit a continuation of the Executive's employment following the expiration of the Term term of this Agreement. View More
