Meaning of “evergreen contract” in the English Dictionary

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"evergreen contract" in Business English

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evergreen contractnoun [ C ]

uk us LAW

a legal agreement that will automatically start again unless one of the people or businesses involved officially ends it:

He has committed to being music director through the 2010-11 season, after which he'll have what's called an evergreen contract, allowing year-by-year renewals.

(Definition of “evergreen contract” from the Cambridge Business English Dictionary © Cambridge University Press)