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Evergreen |
Also found in: Encyclopedia, Wikipedia, Hutchinson | 0.01 sec. |
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Evergreen A contract that rolls over after each agreed (short-term) period until cancelled by one party. Evergreen Describing a long-term contract that is renewed automatically after a short-term period unless it is terminated. For example, an evergreen contract may last five years with an option to terminate at the end of one year. Unless one party or the other terminates the contract by the end of the first year, it is renewed for an additional five years after the end of the first five years. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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