Common use of Effectiveness of Agreement; Term Clause in Contracts

Effectiveness of Agreement; Term. This Agreement shall become effective on the consummation of the IPO ("the Effective Date"), but shall be void and of no further effect if the IPO has not been consummated by December 31, 1999. The term of Executive's employment pursuant to this Agreement shall be for the period from and including the Effective Date until and including the fourth anniversary of the Effective Date, and for additional, consecutive one-year periods thereafter, all unless earlier terminated as provided in Section 8, below.