Common use of Basic Term Clause in Contracts

Basic Term. The term of employment of Officer by Corporation shall be from January 1, 1996 through December 31, 2000, unless terminated earlier pursuant to this Section 2. Commencing in 1996, on the first day of January of each year, the first and third sentences of this Section 2.2 shall be amended by deleting the year then appearing therein and inserting in its place the next subsequent year.

Basic Term. The term of employment of Officer by Corporation shall be from January 1, 1996 1999 through December 31, 20002004, unless terminated earlier pursuant to this Section 2. Commencing in 19962000, on the first day of January of each year, the first and third sentences sentence of this Section 2.2 shall be amended by deleting the year then appearing therein and inserting in its place the next subsequent year.

Basic Term. The term of employment of Officer by Corporation shall be from January 1, 1996 2003 through December 31, 20002007, unless terminated earlier pursuant to this Section 2. Commencing in 19962004, on the first day of January of each year, the first and third sentences sentence of this Section 2.2 shall be amended by deleting the each year then appearing therein and inserting in its each place the next subsequent year.

Basic Term. The term of employment of Officer by Corporation shall be from January 1, 1996 2003 through December 31, 20002003, unless terminated earlier pursuant to this Section 2. Commencing in 19962004, on the first day of January of each year, the first and third sentences sentence of this Section 2.2 shall be amended by deleting the each year then appearing therein and inserting in its each place the next subsequent year.

Basic Term. The term of employment of Officer by Corporation shall be from January 1, 1996 September 15 2000 through December 31, 20002001, unless terminated earlier pursuant to this Section 2. Commencing in 1996, on the first day of January of each yearThereafter, the first and third sentences term of employment of Officer by Corporation shall automatically renew for additional one-year periods, unless terminated earlier pursuant to this Section 2.2 shall 2, commencing each January 1st unless Corporation or Officer, as the case may be, gives written notice to the other of its desire not to renew such term, which notice must be amended by deleting given no later than 90 days prior to the year then appearing therein and inserting in its place end of the next subsequent yearinitial term on any such renewal.

Basic Term. The term of employment of Officer by Corporation shall be from January November 1, 1996 2003 through December 31, 20002004, unless terminated earlier pursuant to this Section 2. Commencing in 19962005, on the first day of January of each year, the first and third sentences sentence of this Section 2.2 shall be amended by deleting the each year then appearing therein and inserting in its each place the next subsequent year.

Basic Term. The term of employment of Officer by Corporation shall be from January 1, 1996 2021 through December 31, 20002021, unless terminated earlier pursuant to this Section 2. Commencing in 19962021, on the first last day of January December of each year, the first and third sentences sentence of this Section 2.2 shall be automatically amended without any action by the parties by deleting the each year then appearing therein and inserting in its each place the next subsequent year, such that this Agreement shall be deemed to have been renewed each year prior to the expiration of the current term.

Basic Term. The term of employment of Officer by Corporation shall be from January March 1, 1996 2011 through December 31, 20002011, unless terminated earlier pursuant to this Section 2. Commencing in 1996Thereafter, on the first day Officer’s term of January of each yearemployment shall be continued for successive one-year terms, the first and third sentences of unless terminated earlier pursuant to this Section 2.2 shall be amended by deleting the year then appearing therein and inserting in its place the next subsequent year2.

Basic Term. The term of employment of Officer by Corporation shall be from January 1, 1996 2007 through December 31, 20002007, unless terminated earlier pursuant to this Section 2. Commencing in 19962008, on the first day of January of each year, the first and third sentences sentence of this Section 2.2 shall be amended by deleting the each year then appearing therein and inserting in its each place the next subsequent year.