Term Clause Example from Business Contracts

Term. The Executive's employment hereunder shall be effective as of the Effective Date and shall continue until the second (2nd) anniversary thereof (the "Initial Term"), unless terminated earlier pursuant to the terms of this Agreement; provided that, on such second (2nd) anniversary of the Effective Date and each one year (1 ) 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 (1) year (each "Renewal Term"), unless either Party provides written notice of its intention not to extend the term of the Agreement at least 90 days prior to the applicable Renewal Date. The Initial Term and each Renewal Term is hereinafter referred to as the "Term." View More