evergreen contract Meaning in the Cambridge English Dictionary
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Meaning of “evergreen contract” in the English Dictionary

"evergreen contract" in Business English

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evergreen contractnoun [C]

uk   us   LAW
a ​legalagreement that will ​automaticallystart again unless one of the ​people or ​businesses involved ​officiallyends it: He has ​committed to being music ​director through the 2010-11 ​season, after which he'll have what's called an ​evergreencontract, ​allowing year-by-year renewals.
(Definition of evergreen contract from the Cambridge Business English Dictionary © Cambridge University Press)
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