The execution date is understood to be the date that the contract is signed by the last person who needs to sign the contract, and therefore does NOT need to be stated in the body of the contract. This understanding is also why it is important for signature blocks to include spaces for the signor's to date their signatures.
Termination clauses allow a party who is dissatisfied to dissolve the agreement.
The prior notice period required before termination is effective may be any amount of time, but 30 days is the norm. Shorter term contracts, such as consulting contracts, may require 5 or 10 days prior notice to be given first telephonically, then followed up immediately by written notice. Notice requirements in affiliation agreements may be drafted in such a way as to allow students currently on rotation at the facility to complete that rotation. If notice of termination has not been given by either party by the time of expiration of the current term of this agreement, this agreement shall be automatically renewed for one year.