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, 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 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 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 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.