Term Clause Example from Business Contracts

Term. The Executive's term of employment under this Agreement (such term of employment, as it may be extended or terminated, is herein referred to as the "Employment Term") shall be for a term commencing on May 1, 2022 (the "Effective Date") and, unless terminated earlier as provided in Section 5 hereof, ending on the third anniversary of the Effective Date (the "Original Employment Term"); provided that, on such third anniversary of the Effective Date and each annual anniversary thereafter (such date... and each annual anniversary thereof, a "Renewal Date"), the Agreement shall be deemed to be automatically extended, upon the same terms and conditions, for successive periods of one year, unless either party provides written notice of its intention not to extend the term of the Agreement at least ninety 90days' prior to the applicable Renewal Date. The period during which the Executive is employed by the Company hereunder is hereinafter referred to as the "Employment Term." View More