Common use of Multi-Year Contract Clause in Contracts

Multi-Year Contract. It is understood and agreed between the parties to this agreement that this contract shall be multi-year in nature and is designed to cover the labor and management understanding for all employees covered by this contract for four (4) years except that the provisions hereinafter detailed shall automatically change effective January 1 of the year of the contract term involved providing that in the legislation is required the effectiveness of the provisions shall be postponed until said legislation is adopted but shall be retroactive in any event until January 1 of the year involved.

Multi-Year Contract. It is understood and agreed between the parties to this agreement that this contract shall be multi-year in nature and is designed designated to cover the labor and management understanding for all employees covered by this contract for four (4) years except that the provisions hereinafter detailed shall automatically change effective January 1 of the year of the contract term involved providing provided that in the event that legislation is required required, the effectiveness of the provisions shall be postponed until said legislation is adopted but shall be retroactive in any event until January 1 of the year involved.