Termination after First Contract Year Clause Samples
The 'Termination after First Contract Year' clause allows either party to end the contract after the initial twelve-month period has elapsed. Typically, this clause outlines the process for providing notice—such as requiring written notification a certain number of days before the intended termination date—and may specify any conditions or penalties associated with early termination after the first year. Its core function is to provide flexibility for both parties, enabling them to reassess their ongoing relationship and exit the agreement without being locked in for an extended term, thereby reducing long-term risk and commitment.
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Termination after First Contract Year. Upon written notice to Castlight, at any time during any Term subsequent to the First Contract Year, Customer may terminate this Agreement *** prior written notice. Upon the effective date of such termination, Castlight shall immediately cease work on the effective Service Addendum and deliver to Customer all Services performed to date of termination. In the event of such termination, Customer shall only be responsible for the payment of fees described in Section 3.4.