Common use of EFFECTIVE DATE; TERM OF AGREEMENT Clause in Contracts

EFFECTIVE DATE; TERM OF AGREEMENT. (a) Employee and Employer agree that the employment relationship between Employee and Employer shall be governed in all respects by the terms and provisions of this Agreement effective as of the date of the closing of the transactions contemplated by the Consolidation Agreement ("Effective Date"). If for any reason such closing shall not occur, this Agreement and all of its terms and conditions shall be null and void and of no effect whatsoever. (b) The term of Employee's employment under this Agreement shall end on the earlier of the following dates (the "Employment Termination Date"): (i) The Scheduled Termination Date; or (ii) The effective date of Employee's termination of employment with Employer as provided in Section 5 hereof, if earlier. (c) As used in this Agreement, the initial "Scheduled Termination Date" initially shall be December 31, 1997; provided, however, that such initial Scheduled Termination Date automatically shall be changed on such initial Scheduled Termination Date or any subsequent Scheduled Termination Date to a date which is exactly two years after the Scheduled Termination Date then in effect (and after such a change, such date shall thereafter be the then "Scheduled Termination Date") unless either Employer or Employee gives notice (the "Notice of Non-Extension") to the other party that the Scheduled Termination Date shall not be so postponed; and provided further, that the Scheduled Termination Date automatically shall be postponed pursuant to the preceding clause for successive two-year periods until a Notice of Non-Extension is given by at least one of the parties. Any Notice of Non-Extension must be given in writing at least six months prior to the Scheduled Termination Date to which the Notice of Non-Extension applies. Upon any such non-renewal by either party, Employee shall be subject to Section 6 to the extent provided therein. (d) Notwithstanding that Employee's employment by Employer under this Agreement shall terminate on the Employment Termination Date, such termination shall not have the effect of terminating those obligations of any party which, pursuant to the terms of this Agreement, are contemplated as remaining in effect to a date, or throughout a period which ends, after the Employment Termination Date.

EFFECTIVE DATE; TERM OF AGREEMENT. (a) Employee and Employer agree that the employment relationship between Employee and Employer shall be governed in all respects by the terms and provisions of this Agreement effective as of the date of the closing of the transactions contemplated by the Consolidation Agreement ("Effective Date"). If for any reason such closing shall not occur, this Agreement and all of its terms and conditions shall be null and void and of no effect whatsoever. (b) The term of Employee's employment under this Agreement shall end on the earlier of the following dates (the "Employment Termination Date"): (i) The Scheduled Termination Date; or (ii) The effective date of Employee's termination of employment with Employer as provided in Section 5 hereof, if earlier. (c) As used in this Agreement, the initial "Scheduled Termination Date" initially shall be December 31, 19971996; provided, however, that such initial Scheduled Termination Date automatically shall be changed on such initial Scheduled Termination Date or any subsequent Scheduled Termination Date to a date which is exactly two years after the Scheduled Termination Date then in effect (and after such a change, such date shall thereafter be the then "Scheduled Termination Date") unless either Employer or Employee gives notice (the "Notice of Non-Extension") to the other party that the Scheduled Termination Date shall not be so postponed; and provided further, that the Scheduled Termination Date automatically shall be postponed pursuant to the preceding clause for successive two-year periods until a Notice of Non-Extension is given by at least one of the parties. Any Notice of Non-Extension must be given in writing at least six months prior to the Scheduled Termination Date to which the Notice of Non-Extension applies. Upon any such non-renewal by either party, Employee shall be subject to Section 6 to the extent provided therein. (d) Notwithstanding that Employee's employment by Employer under this Agreement shall terminate on the Employment Termination Date, such termination shall not have the effect of terminating those obligations of any party which, pursuant to the terms of this Agreement, are contemplated as remaining in effect to a date, or throughout a period which ends, after the Employment Termination Date.

EFFECTIVE DATE; TERM OF AGREEMENT. (a) Employee and Employer agree that the employment relationship between Employee and Employer shall be governed in all respects by the terms and provisions of this Agreement effective as of the date of the closing of the transactions contemplated by the Consolidation Agreement ("Effective Date"). If for any reason such closing shall not occur, this Agreement and all of its terms and conditions shall be null and void and of no effect whatsoever. (b) The term of Employee's employment under this Agreement shall end on the earlier of the following dates (the "Employment Termination Date"): (i) The Scheduled Termination Date; or (ii) The effective date of Employee's termination of employment with Employer as provided in Section 5 hereof, if earlier. (c) As used in this Agreement, the initial "Scheduled Termination Date" initially shall be December 31, 19971994; provided, however, that such initial Scheduled Termination Date automatically shall be changed on such initial Scheduled Termination Date or any subsequent Scheduled Termination Date to a date which is exactly two years one month after the Scheduled Termination Date then in effect (and after such a change, such date shall thereafter be the then "Scheduled Termination Date") unless either Employer or Employee gives notice (the "Notice of Non-Extension") to the other party that the Scheduled Termination Date shall not be so postponed; and provided further, that the Scheduled Termination Date automatically shall be postponed pursuant to the preceding clause for successive twoone-year month periods until a Notice of Non-Non- Extension is given by at least one of the parties. Any Notice of Non-Extension must be given in writing at least six months one month prior to the Scheduled Termination Date to which the Notice of Non-Extension applies. Upon any such non-renewal by either party, Employee shall be subject to Section 6 to the extent provided therein. (d) Notwithstanding that Employee's employment by Employer under this Agreement shall terminate on the Employment Termination Date, such termination shall not have the effect of terminating those obligations of any party which, pursuant to the terms of this Agreement, are contemplated as remaining in effect to a date, or throughout a period which ends, after the Employment Termination Date.

EFFECTIVE DATE; TERM OF AGREEMENT. (a) Employee and Employer agree that the employment relationship between Employee and Employer shall be governed in all respects by the terms and provisions of this Agreement effective as of the date of the closing of the transactions contemplated by the Consolidation Agreement ("Effective Date")Agreement. If for any reason such closing shall not occur, this Agreement and all of its terms and conditions shall be null and void and of no effect whatsoever. (b) The term of Employee's employment under this Agreement shall end on the earlier of the following dates (the "Employment Termination Date"): (i) The Scheduled Termination Date; or (ii) The effective date of Employee's termination of employment with Employer as provided in Section 5 hereof, if earlier. (c) As used in this Agreement, the initial "Scheduled Termination Date" initially shall be December 31June 30, 19971996; provided, however, that such initial Scheduled Termination Date automatically shall be changed on such initial Scheduled Termination Date or any subsequent Scheduled Termination Date Date, i.e., June 30 (thus extending the term of this Agreement), to a date which is exactly two years after the Scheduled Termination Date then in effect (and after such a change, such date shall thereafter be the then "Scheduled Termination Date") unless either Employer or Employee gives notice (the "Notice of Non-Extension") to the other party that the Scheduled Termination Date shall not be so postponed; and provided further, that the Scheduled Termination Date automatically shall be postponed pursuant to the preceding clause for successive two-year periods until a Notice of Non-Extension is given by at least one of the parties. Any Notice of Non-Extension must be given in writing at least six months prior to the Scheduled Termination Date to which the Notice of Non-Non- Extension applies. Upon any such non-renewal by either party, Employee shall be subject to Section 6 to the extent provided therein. (d) Notwithstanding that Employee's employment by Employer under this Agreement shall terminate on the Employment Termination Date, such termination shall not have the effect of terminating those obligations of any party which, pursuant to the terms of this Agreement, are contemplated as remaining in effect to a date, or throughout a period which ends, after the Employment Termination Date.

EFFECTIVE DATE; TERM OF AGREEMENT. (a) Employee and Employer agree that the employment relationship between Employee and Employer shall be governed in all respects by the terms and provisions of this Agreement effective as of the date of the closing of the transactions contemplated by the Consolidation Agreement ("Effective Date")Agreement. If for any reason such closing shall not occur, this Agreement and all of its terms and conditions shall be null and void and of no effect whatsoever. (b) The term of Employee's employment under this Agreement shall end on the earlier of the following dates (the "Employment Termination Date"): (i) The Scheduled Termination Date; or (ii) The effective date of Employee's termination of employment with Employer as provided in Section 5 hereof, if earlier. (c) As used in this Agreement, the initial "Scheduled Termination Date" initially shall be December 31, 19971998; provided, however, that such initial Scheduled Termination Date automatically shall be changed on such initial Scheduled Termination Date or any subsequent Scheduled Termination Date to a date which is exactly two years after the Scheduled Termination Date then in effect (and after such a change, such date shall thereafter be the then "Scheduled Termination Date") unless either Employer or Employee gives notice (the "Notice of Non-Extension") to the other party that the Scheduled Termination Date shall not be so postponed; and provided further, that the Scheduled Termination Date automatically shall be postponed pursuant to the preceding clause for successive two-year periods until a Notice of Non-Extension is given by at least one of the parties. Any Notice of Non-Extension must be given in writing at least six months prior to the Scheduled Termination Date to which the Notice of Non-Extension applies. Upon any such non-renewal by either party, Employee shall be subject to Section 6 to the extent provided therein. (d) Notwithstanding that Employee's employment by Employer under this Agreement shall terminate on the Employment Termination Date, such termination shall not have the effect of terminating those obligations of any party which, pursuant to the terms of this Agreement, are contemplated as remaining in effect to a date, or throughout a period which ends, after the Employment Termination Date.

EFFECTIVE DATE; TERM OF AGREEMENT. (a) Employee and Employer agree that the employment relationship between Employee and Employer shall be governed in all respects by the terms and provisions of this Agreement effective as of the date of the closing of the transactions contemplated by the Consolidation Agreement ("Effective Date"). If for any reason such closing shall not occur, this Agreement and all of its terms and conditions shall be null and void and of no effect whatsoever. (b) The term of Employee's employment under this Agreement shall end on the earlier of the following dates (the "Employment Termination Date"): (i) The Scheduled Termination Date; or (ii) The effective date of Employee's termination of employment with Employer as provided in Section 5 hereof, if earlier. (c) As used in this Agreement, the initial "Scheduled Termination Date" initially shall be December 31, 19971998; provided, however, that such initial Scheduled Termination Date automatically shall be changed on such initial Scheduled Termination Date or any subsequent Scheduled Termination Date to a date which is exactly two years after the Scheduled Termination Date then in effect (and after such a change, such date shall thereafter be the then "Scheduled Termination Date") unless either Employer or Employee gives notice (the "Notice of Non-Extension") to the other party that the Scheduled Termination Date shall not be so postponed; and provided further, that the Scheduled Termination Date automatically shall be postponed pursuant to the preceding clause for successive two-year periods until a Notice of Non-Extension is given by at least one of the parties. Any Notice of Non-Extension must be given in writing at least six months prior to the Scheduled Termination Date to which the Notice of Non-Extension applies. Upon any such non-renewal by either party, Employee shall be subject to Section 6 to the extent provided therein. (d) Notwithstanding that Employee's employment by Employer under this Agreement shall terminate on the Employment Termination Date, such termination shall not have the effect of terminating those obligations of any party which, pursuant to the terms of this Agreement, are contemplated as remaining in effect to a date, or throughout a period which ends, after the Employment Termination Date.