Term Clause Example with 4 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. This Agreement is effective as of January 1, 2022 and will expire on December 31, 2024 (the "Initial Three Year Term"); provided that on and after January 1, 2023, the Initial Three Year Term shall be automatically extended by one (1) day on each day that passes while you are employed pursuant to this Agreement (including any day after the end of the Initial Three Year Term) so that there will always be two (2) years remaining in the term of this Agreement (the Initial Three Year Term and any ex...tended term of this Agreement is referred to as the "Employment Period"). In the event of the termination of your employment for any reason after January 1, 2023 when the automatic one-day extensions begin, the automatic one-day extensions shall cease as of your last day of employment pursuant to this Agreement. At any time on or after January 1, 2023, the Company may give you written notice that the Employment Period will not be extended on a daily basis ("Nonrenewal Notice"), in which case this Agreement will terminate two (2) years after the date of the Nonrenewal Notice, but not before the completion of the Initial Three Year Term, or such later date as may be specified in the Nonrenewal Notice. Notwithstanding anything in this Agreement to the contrary, this Agreement and the Employment Period will automatically terminate on the first day of the month immediately following the month in which you turn sixty-seven (67). The last day of the Employment Period is sometimes referred to in this Agreement as the "Expiration Date." View More Arrow

Variations of a "Term" Clause from Business Contracts

Term. This Agreement is effective as of January 1, 2022 October 31, 2016 and will expire on December October 31, 2024 2019 (the "Initial Three Year Term"); provided that on and after January November 1, 2023, 2018, the Initial Three Year Term shall be automatically extended by one (1) day on each day that passes while you are employed pursuant to this Agreement (including any day after the end of the Initial Three Year Term) so that there will always be two (2) years one year remaining in the term of ...this Agreement (the Initial Three Year Term and any extended term of this Agreement is referred to as the "Employment Period"). In the event of the termination of your employment for any reason after January November 1, 2023 2018 when the automatic one-day extensions begin, the automatic one-day extensions shall cease as of your last day of employment pursuant to this Agreement. At any time on or after January November 1, 2023, 2018, the Company Bank may give you written notice that the Employment Period will not be extended on a daily basis ("Nonrenewal Notice"), in which case this Agreement will terminate two (2) years one year after the date of the Nonrenewal Notice, but not before the completion of the Initial Three Year Term, or such later date as may be specified in the Nonrenewal Notice. Notwithstanding anything in this Agreement to the contrary, this Agreement and the Employment Period will automatically terminate on the first day of the month immediately following the month in which you turn sixty-seven (67). seventy (70). The last day of the Employment Period is sometimes referred to in this Agreement as the "Expiration Date." View More Arrow
Term. This Agreement is effective as of January 1, 2022 2015 and will expire on December 31, 2024 2017 (the "Initial Three Year Term"); provided that on and after January 1, 2023, 2017 (the second anniversary of this Agreement) the Initial Three Year Term shall be automatically extended by one (1) day on each day that passes while you are employed pursuant to this Agreement (including any day after the end of the Initial Three Year Term) so that there will always be two (2) years one year remaining in... the term of this Agreement (the Initial Three Year Term and any extended term of this Agreement is referred to as the "Employment Period"). In the event of the termination of your employment for any reason after January 1, 2023 2017 when the automatic one-day extensions begin, the automatic one-day extensions shall cease as of your last day of employment pursuant to this Agreement. At any time on or after January 1, 2023, 2017, the Company may give you written notice that the Employment Period will not be extended on a daily basis ("Nonrenewal Notice"), in which case this Agreement will terminate two (2) years one year after the date of the Nonrenewal Notice, but not before the completion of the Initial Three Year Term, or such later date as may be specified in the Nonrenewal Notice. Notwithstanding anything in this Agreement to the contrary, this Agreement and the Employment Period will automatically terminate on the first day of the month immediately following the month in which you turn sixty-seven (67). seventy (70). The last day of the Employment Period is sometimes referred to in this Agreement as the "Expiration Date." View More Arrow
Term. This Agreement is effective as of January 1, 2022 the date of this Agreement written above and will expire on December 31, 2024 2023 (the "Initial Three Two Year Term"); provided that on and after January 1, 2023, the Initial Three Two Year Term shall be automatically extended by one (1) day on each day that passes while you are employed pursuant to this Agreement (including any day after the end of the Initial Three Two Year Term) so that there will always be two (2) years one (1) year remainin...g in the term of this Agreement (the Initial Three Two Year Term and any extended term of this Agreement is referred to as the "Employment Period"). In the event of the termination of your employment for any reason after January 1, 2023 when the automatic one-day extensions begin, the automatic one-day extensions shall cease as of your last day of employment pursuant to this Agreement. At any time on or after January 1, 2023, the Company Bank may give you written notice that the Employment Period will not be extended on a daily basis ("Nonrenewal Notice"), in which case this Agreement will terminate two (2) years one (1) year after the date of the Nonrenewal Notice, but not before the completion of the Initial Three Two Year Term, or such later date as may be specified in the Nonrenewal Notice. Notwithstanding anything in this Agreement to the contrary, this Agreement and the Employment Period will automatically terminate on the first day of the month immediately following the month in which you turn sixty-seven (67). The last day of the Employment Period is sometimes referred to in this Agreement as the "Expiration Date." View More Arrow
Term. This Agreement is effective as of January 1, 2022 and will expire on December 31, 2024 2023 (the "Initial Three Two Year Term"); provided that on and after January 1, 2023, the Initial Three Two Year Term shall be automatically extended by one (1) day on each day that passes while you are employed pursuant to this Agreement (including any day after the end of the Initial Three Two Year Term) so that there will always be two (2) years one (1) year remaining in the term of this Agreement (the Init...ial Three Two Year Term and any extended term of this Agreement is referred to as the "Employment Period"). In the event of the termination of your employment for any reason after January 1, 2023 when the automatic one-day extensions begin, the automatic one-day extensions shall cease as of your last day of employment pursuant to this Agreement. At any time on or after January 1, 2023, the Company may give you written notice that the Employment Period will not be extended on a daily basis ("Nonrenewal Notice"), in which case this Agreement will terminate two (2) years one (1) year after the date of the Nonrenewal Notice, but not before the completion of the Initial Three Two Year Term, or such later date as may be specified in the Nonrenewal Notice. Notwithstanding anything in this Agreement to the contrary, this Agreement and the Employment Period will automatically terminate on the first day of the month immediately following the month in which you turn sixty-seven (67). The last day of the Employment Period is sometimes referred to in this Agreement as the "Expiration Date." View More Arrow