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1. Parties: Identification of the contracting parties, including full legal names, registration numbers, and addresses
2. Background: Context of the original contract and the reason for granting the extension option
3. Definitions: Definitions of key terms used in the agreement, including 'Original Contract', 'Extension Period', and 'Option Notice'
4. Grant of Option: Clear statement granting the extension option and any conditions attached to it
5. Exercise of Option: Procedure and requirements for exercising the option, including notice period and format
6. Extension Period: Specification of the duration of the extension period(s) and any limitations
7. Terms During Extension: Confirmation of which original contract terms continue to apply during extension
8. Notices: Requirements for formal communications between parties regarding the option
9. Governing Law and Jurisdiction: Confirmation of Dutch law application and jurisdiction for disputes
1. Price Adjustment Mechanism: Include when the extension involves price changes or indexation during the extended term
2. Multiple Extension Options: Include when there are multiple sequential extension options available
3. Performance Review: Include when the right to extend is conditional on meeting specific performance criteria
4. Modified Terms: Include when certain terms of the original contract will be modified during the extension period
5. Early Termination Rights: Include when special termination rights apply during the extension period
6. Conditions Precedent: Include when specific conditions must be met before the extension option can be exercised
1. Schedule 1 - Original Contract: Copy or reference to the original contract being extended
2. Schedule 2 - Extension Notice Template: Template form for exercising the extension option
3. Schedule 3 - Modified Terms: Details of any terms that will be modified during the extension period
4. Schedule 4 - Price Adjustment Calculations: Formula and methodology for any price adjustments during the extension period
5. Appendix A - Performance Criteria: If applicable, detailed performance standards that must be met for extension eligibility
Information Technology
Real Estate
Manufacturing
Professional Services
Telecommunications
Construction
Healthcare
Retail
Energy
Transportation and Logistics
Financial Services
Education
Legal
Procurement
Commercial
Operations
Business Development
Contract Management
Risk and Compliance
Finance
Project Management
Contract Manager
Legal Counsel
Procurement Manager
Commercial Director
Business Development Manager
Operations Manager
Account Manager
Project Manager
Facility Manager
Risk Manager
Compliance Officer
General Counsel
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