nastyboy1 |
11-10-2005 09:08 PM |
It all depends on how your LAWYER writes up the contract. We have ours drafted in the following way:
SECTION 3.2. TERM AND TERMINATION. This Agreement shall commence on the Effective Date. From the Effective Date through the initial term and each subsequent renewal term, each of the Parties shall use its respective best efforts and work diligently and cooperatively to ensure that the Company successfully, develops and promotes the website , www.xxx.com. The initial Term of this Agreement shall be for two (2) years, measured from the Effective Date and continuing for two (2) years thereafter. Following this initial Term, this Agreement shall automatically renew for subsequent two (2) year periods. This Agreement may be terminated only in accordance with ARTICLE VIII. herein provided however, that the Model shall not terminate this Agreement for any reason whatsoever within the first twelve (12) months hereof, measured from the Effective Date.
Section 3.3. Early Termination Penalty. The parties hereto acknowledge that the services to be rendered by the Model under this Agreement and the rights and privileges granted to the Company under the Agreement are of a special, unique, unusual, and extraordinary character which gives them a peculiar value, the loss of which cannot be reasonably or adequately compensated by damages in any action at law, and the breach by the Model of any of the provisions of this Agreement will cause the Company irreparable injury and damage.Therefore, notwithstanding anything contained in this Agreement to the contrary in the event that this Agreement is terminated for any reason whatsoever by the Model within the first twelve (12) months and or the Model fails to render the agreed upon services, then, the Company shall be entitled to reasonable monetary damages ;
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