Non-Renewal of Term Sample Clauses
The Non-Renewal of Term clause defines the conditions under which a contract will not automatically renew at the end of its specified term. Typically, this clause outlines the notice period and the method by which either party must inform the other of their intention not to renew, such as providing written notice 30 or 60 days before the contract expires. Its core practical function is to provide both parties with clarity and predictability regarding the contract's end date, preventing automatic extensions and allowing for orderly planning or transition.
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Non-Renewal of Term. The Employment Term may be terminated by either party hereto as of the end of the initial term or any renewal term then in effect by giving written notice of the intention to terminate the Employment Term at least 90 days prior to the proposed termination date. If the Company terminates the Employment Term under such circumstances, the Company shall provide the Employee with the Termination Compensation specified in Section 6(c).
Non-Renewal of Term. Either party may elect not to renew this Agreement on the same or similar terms following the expiration of the Term. The parties agree to give the other party written notice of any such decision at least one-hundred-eighty (180) days prior to the expiration of the Term.
Non-Renewal of Term. The Term shall end earlier than the Termination Date provided in Section 2.1 or any extended termination date provided in Section 2.2, in either case if sooner terminated pursuant to Section 4. Non-extension of the Term shall not be deemed to be a termination of this Agreement by the Company, and the Executive shall not be entitled to receive severance benefits or any other payment pursuant to this Agreement.
Non-Renewal of Term. In the event that either party gives notice that it will not renew or extend the Term (as such Term may be extended), Parent shall, within five (5) business days following the expiration of the Term, pay the Executive a lump sum amount in cash equal to (i) the Accrued Obligation and (ii) the product of (A) the Executive's Base Salary as in effect as of the date of the expiration of the Term and (B) the number one and one-half (1.5).
Non-Renewal of Term. In the event a Party elects not to extend the Term pursuant to Section 1, unless the Executive’s employment is terminated earlier pursuant to Section 5(c), this Agreement and the Executive’s employment shall terminate on the close of business on the day immediately preceding the next scheduled extension date and the Executive will only be entitled to the Accrued Obligations.
Non-Renewal of Term. If the Term is not renewed or extended for at least twelve (12) months on any expiration of the Term, then Executive shall be entitled to all of the payments and benefits described in Section 10(c)(ii) as if the Executive’s engagement hereunder were terminated by the Company without Cause.”
9. The following new Section 10(d)(iv) is added to the Agreement:
Non-Renewal of Term. Should Executive give STT written notice at least thirty (30) days prior to the expiration of either the orginal four-year term of his employment or any of the subsequent, consecutive one-year terms set forth in Section 2, above, Executive's employment pursuant to this Agreement shall terminate upon the last day of said term and such termination shall be effective on said day.
Non-Renewal of Term. Executive’s employment shall terminate upon the non-renewal of the Term as set forth in Section 3. If Executive’s employment terminates pursuant to this Section 6(f) due to the Company providing Executive notice of non-renewal pursuant to Section 3, then Executive shall be entitled to receive the Accrued Obligations and the Severance Payment, provided that, Executive shall only be entitled to the Severance Payment if signs, delivers and does not revoke the Release within 60 days after his termination date, and he complies with his Continuing Obligations. If Executive’s employment terminates pursuant to this Section 6(f) due to Executive providing the Company notice of non-renewal pursuant to Section 3, then Executive shall not be entitled to receive any severance, bonus or other payments, except the Accrued Obligations, and the Company shall have no further obligation to Executive or liability under this Agreement by way of compensation or otherwise and Executive shall continue to be fully bound by his Continuing Obligations.
Non-Renewal of Term. In the event the Company elects not to extend the Term pursuant to Section 2, unless Executive’s employment is earlier terminated pursuant to Sections 6, 7, 8 or 9 of this Agreement, the expiration of the Term and Executive’s termination of employment hereunder shall occur on the close of business on the day immediately preceding the next scheduled Extension Date and Executive shall be entitled to receive the payments and benefits applicable to an involuntary termination of Executive’s employment without Cause pursuant to Section 9. Executive shall have no further rights to any compensation or any other benefits under this Agreement.
Non-Renewal of Term. The Employment Term may be terminated by either party hereto as of the end of the initial term or any renewal term then in effect by giving written notice of the intention to terminate the Employment Term at least 90 days prior to the proposed termination date. If Tufco terminated the Employment Term under such circumstances, Tufco shall provide the Employee with the Termination Compensation specified in Section 6(c).