Common use of Effectiveness and Terms Clause in Contracts

Effectiveness and Terms. This Agreement shall be binding on the parties upon its execution, which is concurrent with execution of an Employment Agreement between the parties bearing the same date as this Agreement (the "Employment Agreement"), and this Agreement shall become effective when any one of the contingencies set forth in Section 19 occurs (the "Commencement Date" herein). "Term of Consulting Service" as used herein shall mean the period commencing on the Commencement Date and continuing thereafter through December 31 of the year in which Executive's 68th birthday occurs, unless the Company and Executive agree in writing to extend the Term of Consulting Service, in which case the Term of Consulting Service shall have the meaning as determined at that time; provided, however, that Executive's consulting services may be earlier terminated as hereinafter expressly set forth, in which event the Term of Consulting Service shall mean the period from the Commencement Date through the date of such earlier termination. Except as expressly provided in this Agreement, terms defined in that Employment Agreement are used herein with the same meanings.

Effectiveness and Terms. This Agreement shall be binding on the parties upon its execution, which is concurrent with execution of an Employment Agreement between the parties bearing the same date as this Agreement (the "Employment Agreement"), and this Agreement shall become effective when any one of the contingencies set forth in Section 19 occurs (the "Commencement Date" herein). "Term of Consulting Service" as used herein shall mean the period commencing on the Commencement Date and continuing thereafter through December 31 of the year in which Executive's 68th 69th birthday occurs, unless the Company and Executive agree in writing to extend the Term of Consulting Service, in which case the Term of Consulting Service shall have the meaning as determined at that time; provided, however, that Executive's consulting services may be earlier terminated as hereinafter expressly set forth, in which event the Term of Consulting Service shall mean the period from the Commencement Date through the date of such earlier termination. Except as expressly provided in this Agreement, terms defined in that Employment Agreement are used herein with the same meanings.