Example ContractsClausesinitial term; renewal termsVariants
Initial Term; Renewal Terms
Initial Term; Renewal Terms contract clause examples

Term of Agreement. This Agreement will become effective on the Effective Date and will continue for an initial period of three (3) years thereafter (the “Initial Term”), unless terminated earlier by the Consultant for any reason upon providing thirty (30) days’ prior written notice to the Company. The Initial Term may only be terminated prior to its expiration by the Company for Cause upon written notice. The Initial Term shall automatically extend for additional successive twelve (12) month periods (each period is a “Renewal Term” and collectively, the Initial Term as it may be terminated or extended by any Renewal Term is herein referred to as the “Term”) unless either party provides to the other party written notice of such party’s intent not to renew the then-current Term for an additional twelve (12) month period at least thirty (30) days prior to the expiration of the then-current Term. During any Renewal Term, either party may terminate this Agreement for any reason upon providing thirty (30) days’ prior written notice to the other party. Notwithstanding the foregoing, the Company may immediately terminate this Agreement for Cause upon written notice to the Consultant, and the Consultant may immediately terminate this Agreement without providing thirty (30) days’ prior written notice in the event the Company breaches any of its material obligations hereunder, and the Company fails to cure such breach within five (5) days of receipt of notice of the breach from the Consultant.

10.1Term. The initial term of this Agreement is for a period of twelve (12) months from the Effective Date, unless earlier terminated as provided in [Section 10.2 or 10.3]3] below. After the initial term, provided this Agreement has not been earlier terminated, it will automatically renew on its anniversary date for 12 month terms, unless either Client or Consultant provides 30 days’ written notice to the other party prior to any such anniversary date that the Agreement will not renew. If either Client or Consultant choose not to renew this Agreement, then Client may choose in its sole discretion to provide payment in lieu of notice to Consultant, further provided that Consultant must comply with the Release Requirement to receive any such payment.

This Agreement shall become effective on the date appearing next to the signatures below and terminate one (1) year thereafter. Unless otherwise agreed upon in writing by Consultant and Client, this Agreement shall be automatically be renewed beyond its Term unless sixty (60) days prior written notice is given.

Term. The term of this Agreement shall commence on the Effective Date with an initial term of 6 months, and thereafter on an ongoing open-ended basis. Either party shall have the ability to terminate the Agreement after the initial 6 months with a notice provided in writing within 7 days prior to termination. If the Consultant is terminated anytime before the end of the initial 6 month term, and unless terminated by means of negative causation or proven misconduct by the Consultant, the Consultant’s fees shall be accelerated for the initial 6 months and paid in full. If a non-curable due diligence issue arises from either party, then both parties shall have the right to terminate the Agreement, if in the case of the Company, it would not be liable to pay additional compensation beyond the period that performance on the Agreement had been provided by the Consultant, or if in the case of the Consultant, it would not be obligated to continue performance on this Agreement effective as of the date of termination.

earlier in accordance with the terms of this Agreement, will remain in force and effect for one year, until April 30, 2016 (the “Term”), provided, however, that this Agreement may be renewed by the Company for successive one (1) year periods, provided that the Company gives Consultant written notice of its intention to renew at least thirty (30) days prior to the end of the applicable one-year period and Consultant consents in writing to such extension.

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.