Common use of Commencement Date; Term Clause in Contracts

Commencement Date; Term. Employment of Executive shall continue on the terms herein from and after the date set forth above (the “Commencement Date”) and shall continue during the period ending on December 31, 2020, unless terminated prior to such date pursuant to Section 6 hereof. Following December 31, 2020, the term of the Agreement shall be extended for an additional year, on each anniversary of the Commencement Date, unless either party gives 180 days prior written notice that the term will not be extended (the “Employment Term”). The Employment Term shall terminate upon any termination of the Executive’s employment pursuant to Section 6 hereof. For the avoidance of doubt, prior to the Commencement Date the Prior Employment Agreement shall remain in full force and effect and continue to govern the rights and obligations of the Executive and the Company.

Appears in 1 contract

Samples: Employment Agreement (Sotherly Hotels Lp)

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Commencement Date; Term. Employment of Executive shall continue on the terms herein from and after the date first set forth above (the “Commencement Date”) ), and shall continue during the period ending on December 31, 20202019, unless terminated prior to such date pursuant to Section 6 hereof7. Following December 31, 20202019, the term of the Agreement shall be extended for an additional year, on each anniversary of the Commencement Date, unless either party gives 180 days prior written notice that the term will not be extended (the “Employment Term”). The Employment Term shall terminate upon any termination of the Executive’s employment pursuant to Section 6 hereof7. For the avoidance of doubt, prior to the Commencement Date the Prior Employment Agreement shall remain in full force and effect and continue to govern the rights and obligations of the Executive and the Company.

Appears in 1 contract

Samples: Employment Agreement (Sotherly Hotels Lp)

Commencement Date; Term. Employment of Executive shall continue on the terms herein from and after the date set forth above (the “Commencement Date”) and shall continue during the period ending on December 31, 20202024, unless terminated prior to such date pursuant to Section 6 hereof. Following December 31, 20202024, the term of the Agreement shall be extended for an additional year, on each anniversary of the Commencement Date, unless either party gives 180 days prior written notice that the term will not be extended (the “Employment Term”). The Employment Term shall terminate upon any termination of the Executive’s employment pursuant to Section 6 hereof. For the avoidance of doubt, prior to the Commencement Date the Prior Employment Agreement shall remain in full force and effect and continue to govern the rights and obligations of the Executive and the Company.

Appears in 1 contract

Samples: Employment Agreement (Sotherly Hotels Lp)

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Commencement Date; Term. Employment of Executive shall continue on the terms herein from and after the date set forth above January 1, 2018 (the “Commencement Date”) and shall continue during the period ending on December 31, 20202022, unless terminated prior to such date pursuant to Section 6 hereof. Following December 31, 20202022, the term of the Agreement shall be extended for an additional year, on each anniversary of the Commencement Date, unless either party gives 180 days prior written notice that the term will not be extended (the “Employment Term”). The Employment Term shall terminate upon any termination of the Executive’s employment pursuant to Section 6 hereof. For the avoidance of doubt, prior to the Commencement Date the Prior Employment Agreement shall remain in full force and effect and continue to govern the rights and obligations of the Executive and the Company.

Appears in 1 contract

Samples: Employment Agreement (Sotherly Hotels Lp)

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