escape clause


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escape clause

n. a provision in a contract which allows one of the parties to be relieved from (get out of) any obligation if a certain event occurs.

References in periodicals archive ?
Veteran left-hander Eric Milton, whose escape clause kicks in Saturday, has agreed not to exercise it.
Holiday magic mixes with comical chaos at the North Pole in "The Santa Clause 3: The Escape Clause.
Nobody has got any escape clause in their contract.
Both had similar escape clauses to Thatcher in their contracts which were activated when Micky Adams' side were relegated.
About Disney's The Santa Clause 3: The Escape Clause, In theaters November 3
Liverpool have spoken to QPR and the France World Cup striker has an PS8m escape clause in his contract for Champions League clubs.
LUIS SUAREZ has a PS70million escape clause in his Liverpool contract.
According to the Mirror, during his time in charge at Goodison Park, Moyes saw the Belgium star sign a deal that carried a 24million pound get-out clause, but the escape clause expired earlier this month.
The 6'11" centre - who joined the basketball outfit only last month - is ready to invoke an escape clause in his contract and secure a lucrative move to Spanish side Tenerife.
Drew said Monday that Scott Boras, his Los Angeles-based agent, tried to renegotiate Drew's five-year, $55 million contract with the Dodgers last winter before Drew made the decision to exercise the escape clause that had been negotiated into the deal two years earlier.
Crammed full of more sugar than a family pack of Christmas candies, The Santa Clause 3: The Escape Clause boasts yuletide fun with Tim Allen and co.
Bullard joined Wigan for pounds 275,000 in 2003, and Fulham's bid triggered an escape clause in Bullard's contract.