Example ContractsClauseseffectiveness, duration and termination of agreementVariants
Remove:

Effectiveness of Agreement. This Agreement will commence on the Effective Date and will continue in effect through ; provided, however, that on and January 1 of every fifth year thereafter, the term of this Agreement will automatically be extended for five additional years unless, not later than June 30 of the final year of the then-current term, the Parent has given notice to the Executive that it does not intend to extend this Agreement (as it may be truncated or extended under the terms of this Agreement, the “Term”). However, if a Change in Control occurs during the term of this Agreement, this Agreement will continue in effect through the second anniversary of the Change in Control regardless of any notice of non-extension that the Parent may have provided to the Executive (such two-year period following a Change in Control, the “Protected Period”).

Effectiveness

Term of Agreement. This Agreement willshall commence on the date hereof (the “Effective Date”) and shall continue until the date that is the third anniversary of the Effective Date and will continue in effect through ;Date; provided, however, that on and January 1 of every fifth year thereafter, the term of this Agreement willshall automatically be extended for fiveone additional years unless, not later than Juneyear on each anniversary, unless at least 30 days prior to such anniversary, the Company, with approval of the final yearBoard of the then-current term, the Parent hasDirectors, or Executive shall have given notice to the Executive that it does not intend to extend this Agreement (as it mayshall not be truncated or extended underextended; and provided that, notwithstanding the termsdelivery of any such notice, this Agreement, the “Term”). However, ifAgreement shall continue in effect for a period of thirty‑six (36) months after a Change in Control occursof the Company, as defined in [Section 1] herein, if such Change in Control shall have occurred during the term of this Agreement, as it may be extended; and provided that in any event this Agreement will continue in effect throughshall expire upon the second anniversary of the Change in Control regardless of any notice of non-extension that the Parent may have provided to the Executive (such two-year period following a Change in Control, the “Protected Period”).Executive’s sixty‑fifth (65th) birthday.

Effectiveness of Agreement.

Term. This Agreement willshall commence on the Effective Date and willshall continue in effect through ; provided, however, that commencing on ; and each January 1 of every fifth year31, thereafter, the term of this Agreement willshall automatically be extended for fiveone (1) additional yearsyear unless, not later than June 30October 31 of the final year ofpreceding year, the then-current term, the Parent has given notice toCompany or the Executive that it doesshall have given written notice not intend to extend this Agreement (as it may be truncated or extended under the terms of this Agreement, the “Term”). However,Agreement; provided, further, however, if a Change inof Control occursof the Company shall have occurred during the initial or extended term of this Agreement, this Agreement willshall continue in effect throughfor a period of 24 months beyond the second anniversarymonth in which such Change of Control of the Change in Control regardless of any notice of non-extension that the Parent may have providedCompany occurred. Notwithstanding anything herein to the contrary this Agreement shall terminate upon the Executive (such two-year period followingceasing to be an executive of the Company prior to a Change of Control of the Company (other than any such cessation which the Executive reasonably demonstrates occurred under circumstances described in Control, the “Protected Period[[clause (i) or (ii) of Section 1.d.(3)(B)])]] hereof).

Effectiveness

Term of Agreement. ThisThe term of this Agreement will(the “Term”) shall commence on the Effective Date and willshall continue in effect through ;until the third anniversary of the Effective Date; provided, however, that commencing on and January 1 of every fifth year thereafter, the term of this Agreement will automatically be extended for five additional years unless, not later than June 30 of the final year of the then-current term, the Parent has given notice to the Executive that it does not intend to extend this Agreement (as it may be truncated or extended under the terms of this Agreement, the “Term”). However, if a Change in Control occurs during the term of this Agreement, this Agreement will continue in effect through the second anniversary of the Effective Date and on each anniversary thereafter, the Term of this Agreement shall automatically be extended for one (1) year unless either the Company or the Executive shall have given written notice to the other at least ninety (90) days prior thereto that the Term of this Agreement shall not be so extended; and provided, further, however, that notwithstanding any such notice by the Company not to extend, the Term shall not expire prior to the second anniversary of a Change in Control regardless of any notice of non-extension that the Parent may have providedoccurs prior to the Executive (such two-year period following a Change in Control,end of the Protected Period”).Term.

Select clause to view document information.

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.