Yes, traditionally. However, when an actor extends his stay, it is seldom for another full year.
However, a big name will likely be able to negotiate for a shorter contract.
Dan Radcliffe is leaving H2S in Jan. No one knows if that was always the plan or if he just renegotiated.
Gavin Creel, on the other hand, agreed to a lower pay scale on a short contract (6 months I think) so that IF the show was a hit he could re negotiate sooner for more money. (Hair)
The more 'clout' you have, the more exceptions can and will be made.
If we're not having fun, then why are we doing it?
These are DISCUSSION boards, not mutual admiration boards. Discussion only occurs when we are willing to hear what others are thinking, regardless of whether it is alignment to our own thoughts.