Term Clause Example from Business Contracts

Term. Subject to the terms and provisions of this Agreement, this Agreement shall commence as of the date hereof (the "Effective Date") and shall continue until the third anniversary of the Effective Date; provided, however, on such third anniversary of the Effective Date and on each annual anniversary of the Effective Date thereafter (such third anniversary date and each annual anniversary thereafter, being a "Renewal Date"), this Agreement shall be deemed to be automatically extended, upon the same ...terms and conditions, for successive periods of one (1) year each, unless the Company or Executive gives written notice to the other party of its intention not to renew this Agreement not less than three (3) months prior to the applicable Renewal Date. The period during which this Agreement is in effect and Executive is employed by the Company hereunder is hereinafter referred to as the "Term." View More