This renewal agreement template has 6 pages and is a MS Word file type listed under our legal agreements documents.
Sample of our renewal agreement template:
RENEWAL AGREEMENT This Renewal Agreement (the "Agreement") is made and effective this [DATE], BETWEEN: [COMPANY NAME] (the "Company") a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], [COUNTRY], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [DISTRIBUTOR NAME] (the "Distributor"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] WHEREAS, the Company and the Distributor entered into a Distribution Agreement dated [ORIGINAL AGREEMENT DATE] (the "Original Agreement"); WHEREAS, the Parties wish to renew the Original Agreement under the terms and conditions set forth herein. IT IS HEREBY AGREED THAT: Term 1.1 The term of this Agreement shall be for a period of [NUMBER OF YEARS] years commencing on [RENEWAL START DATE], and terminating on [RENEWAL END DATE], subject to any renewal of the Agreement pursuant to Section 6 hereof and subject to earlier termination of this Agreement pursuant to Section 5 hereof (the "Term"). MODIFICATIONS TO ORIGINAL AGREEMENT 2.1 Pricing and Payment Terms: [SPECIFY ANY CHANGES TO PRICING, PAYMENT SCHEDULES, OR PAYMENT METHODS.] 2.2 Territory: [SPECIFY ANY CHANGES TO THE GEOGRAPHIC TERRITORY COVERED BY THE AGREEMENT.] 2.3 Products: [SPECIFY ANY CHANGES TO THE PRODUCTS COVERED BY THE AGREEMENT, INCLUDING ADDITIONS OR DELETIONS.] 2.4 Performance Requirements: [SPECIFY ANY CHANGES TO PERFORMANCE REQUIREMENTS, SUCH AS SALES TARGETS OR MARKETING COMMITMENTS.] 2.5 Reporting and Compliance: [SPECIFY ANY CHANGES TO REPORTING REQUIREMENTS OR COMPLIANCE OBLIGATIONS.] 2.6 Other Modifications: [INCLUDE ANY OTHER MODIFICATIONS TO THE ORIGINAL AGREEMENT.] CONTINUING TERMS 3.1 Except as expressly modified by this Agreement, all terms and conditions of the Original Agreement shall remain in full force and effect during the Renewal Term. In the event of any conflict between the terms of this Agreement and the Original Agreement, the terms of this Agreement shall control. COMPENSATION 4.1 Fee: In consideration of the services to be provided by the Distributor throughout the Term, the Company shall pay the Distributor a total fee of [AMOUNT] in [CURRENCY], payable in [SPECIFY PAYMENT TERMS]. 4.2 Additional Services: Any services outside the scope of this Agreement shall be considered additional services and will be billed at the rate of [HOURLY/DAY RATE] in [CURRENCY], upon the prior written consent of the Company. TERMINATION OF AGREEMENT 5.1 Termination for Just Cause: The Company may terminate this Agreement at any time for Just Cause (as hereinafter defined) without payment of any compensation either by way of anticipated earnings or damages of any kind. For the purposes of this Agreement, "Just Cause" means the continued breach of this Agreement by the Distributor after [NUMBER] written warnings to such effect, deliberate action to injure or show disloyalty to the Company, or theft or fraud against the Company. 5.2 Termination due to Incapacity: Notwithstanding any other provisions of this Agreement, the Company may terminate this Agreement at any time upon [NUMBER OF WEEKS] weeks prior written notice if the Distributor has not been able to perform the services for a period of [NUMBER OF MONTHS] consecutive months. In the case of disability or incapacity of the Distributor, the Company may, however, provide the services of another individual to temporarily perform the services so long as such individual performs such services to the satisfaction of the Company. 5.3 Return of Property: Upon any termination of this Agreement for any reason whatsoever, the Distributor shall at once deliver to the Company all books, documents, effects, money, securities, or other property belonging to the Company which are in the possession, charge, control, or custody of the Distributor. RENEWAL OF AGREEMENT 6.1 The Company may offer to renew this Agreement in accordance with the terms and conditions hereof for further periods of [NUMBER OF YEAR(S)] year(s) each by giving notice in writing to the Distributor not later than [NUMBER OF MONTHS] months prior to the expiry of the Term or the renewal thereof. Such notice shall include the Company's proposals for any changes in terms or conditions of this Agreement. The Distributor shall communicate its acceptance of such offer by giving notice in writing thereof to the Company no later than [NUMBER OF WEEKS] weeks after receipt of the said offer. Any proposed changes in fees or other terms and conditions shall be agreed upon in writing between the Parties. 6.2 Failing such renewal and acceptance thereof, this Agreement shall terminate at the end of the Term or of the renewal term, as the case may be, without further notice and termination payments. SEVERABILITY 7.1 If a court of competent jurisdiction adjudges, declares, or decrees any portion of this Agreement void or unenforceable, such portion shall, automatically and without further act on the part of the Parties hereto, be reduced in scope, territory, or duration of time to such an extent that the court would hold the same to be enforceable in the circumstances before the court, or, if the court is unwilling to do so, shall be deemed void and severed here from. WAIVER RESTRICTIONS 8.1 The failure of either Party hereto at any time to require strict performance of any of the terms and conditions hereof by the other Party hereto shall not be construed as a waiver or relinquishment of any such term or condition, nor shall such failure be construed to waive, relinquish, or diminish the former's right thereafter to demand strict compliance therewith or with any other provisions of this Agreement. The waiver of any default shall not operate as a waiver of any other default or of the same type of default on a future occasion, and no waiver hereunder shall be effective unless it is in writing and signed by the Party granting such waiver. SUCCESSOR RIGHTS 9.1 This Agreement shall to the benefit of and be binding upon the Parties hereto and their respective heirs, executors, legal representatives, and successors
