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Discover LudwigThe phrase "extend contract" is correct and usable in written English.
You can use it to indicate that a contract will last for a longer period of time than previously agreed. For example: The company decided to extend the contract for another year to ensure that all employees had secure jobs.
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DealBook » Deutsche Bank Plans to Extend Contract of Co-C.E.O.
The Boeing Company and 3,200 machinists at its St . Louismilitary jet plant have agreed to extend contract talks until June 3, delaying a strike planned for as early as Monday, the union said yesterday.
A federal mediator has persuaded the union representing 1,400 Public Service Electric and Gas workers to extend contract negotiations through next Monday, a spokeswoman for the utility said yesterday.
Teams have until 9 p.m. PST Monday to extend contract offers to or non-tender players who are eligible for arbitration.
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In return, Gazprom will extend contracts to sell gas to ENI, its largest foreign customer, until 2035.
Angels don't extend contracts to four, including Jerome Williams.
Then given an extended contract.
Extended contract of Suzanne Yoculan, women's gymnastics coach, through 2005.
We very much want him to stay and he will be offered an extended contract.
Because of that faith, he has just signed an extended contract through 2016.
In a meeting in New York, Mr. Gore leaned on Mr. Murdoch for an extended contract with a lucrative per-subscriber fee.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com