What is the length of the renewal term for a Christies International Real Estate franchise?

entified on Exhibit 1 of this Agreement (referred to as the "Minimum Performance Requirement(s)"). If you fail to satisfy any Minimum Performance Requirement during the term of this Agreement, we have the right to terminate this Agreement, or, in lieu of termination, modify or rescind any such territorial or protected rights.

2. TERM AND RENEWAL

• 2.1. Term. This Agreement will be effective for a ten (10) year term beginning on the Effective Date specified in this Agreement.
• 2.2. Renewal. You will have the right to renew the rights granted under this Agreement for one (1) additional term of ten (10) years, provided the following conditions are met:
  • (a) we are still offering licenses or franchises under the Marks and System;
  • (b) you meet our then-current standards for new CHRISTIE'S INTERNATIONAL REAL ESTATE Affiliates;
  • (c) you have given us written notice of your intention to renew at least 365 days before the end of the then-existing term of this Agreement;
  • (d) you are in compliance with all provisions of this Agreement, including all monetary obligations you owe to us or our affiliates, throughout the term of this Agreement;
  • (e) you have paid a renewal fee of $1,000 (the "Renewal Fee") to us at least six months before the then-existing term of this Agreement expires;

Source: Item 17 — RENEWAL, TERMINATION, TRANSFER AND DISPUTE RESOLUTION (FDD pages 43–47)