(1) Where the agency contract is entered into for an indefinite period, it may be terminated during the first year of the contract by giving one month’s notice of termination, during the second year of the contract by giving two months’ notice of termination and during the third to the fifth year of the contract by giving three months’ notice of termination. After a contract period of five years, the agency contract may be terminated by giving six months' notice of termination. Notice of termination is only permitted with effect as per the end of a calendar month, unless otherwise agreed by the parties.
(2) The periods of notice under subsection (1) sentences 1 and 2 may be extended by agreement; the period of notice to be observed by the trader may not be shorter than that to be observed by the commercial agent. If a shorter period of notice for the trader is agreed upon, the period of notice agreed for the commercial agent will apply.
(3) An agency contract entered into for a fixed period which continues to be performed by both parties after such agreed period has expired is deemed to be extended for an indefinite period. As regards the determination of the periods of notice under subsection (1) sentences 1 and 2, the total duration of the agency contract is determinative.