Common use of Termination and Extension Clause in Contracts

Termination and Extension. Unless extended in accordance with the provisions of this paragraph, this Agreement shall automatically terminate two years from the Effective Date. This Agreement shall automatically extend for additional one-year terms unless either party delivers to the other party, at least 60 days prior to the expiration of the Agreement, written notice of such party's intent to terminate the Agreement. Such notice to Executive must be delivered to Executive's address then on record with the UGSI. Notice to UGSI must be delivered to the then Chief Executive Officer at the designated headquarters of UGSI.