Common use of Employment Period Termination Clause in Contracts

Employment Period Termination. (a) The Executive’s employment under this Agreement shall commence on the Effective Date and shall continue thereafter unabated until terminated upon the earlier to occur of the following events: (i) the close of business on the fifth (5th) anniversary of this Agreement (with the initial five (5) year term of this Agreement being referred to herein as the “Initial Term”) or (ii) otherwise as provided below, provided, however, that, on the fifth anniversary of the date of this Agreement, and on every subsequent annual anniversary, and unless either party has given the other party written notice at least sixty (60) days prior to the such anniversary date, the term of this Agreement and the Employment Period shall be renewed for a term ending one (1) year subsequent to such date (each such one-year term shall be referred to herein as a “Renewal Term”), unless sooner terminated as provided herein. For the purposes of this Agreement, the Initial Term and each Renewal Term shall collectively be referred to as the “Employment Period”.

Employment Period Termination. (a) The Executive’s employment under this Agreement shall commence on the Effective Date and shall continue thereafter unabated until terminated upon the earlier to occur of the following events: (i) the close of business on the fifth third (5th3rd) anniversary of this Agreement (with the initial five three (53) year term of this Agreement being referred to herein as the “Initial Term”) or (ii) otherwise as provided below, provided, however, that, on the fifth third anniversary of the date of this Agreement, and on every subsequent annual anniversary, and unless either party has given the other party written notice at least sixty (60) days prior to the such anniversary date, the term of this Agreement and the Employment Period shall be renewed for a term ending one (1) year subsequent to such date (each such one-year term shall be referred to herein as a “Renewal Term”), unless sooner terminated as provided herein. For the purposes of this Agreement, the Initial Term and each Renewal Term shall collectively be referred to as the “Employment Period”.

Employment Period Termination. (a) The Executive’s employment under this Agreement shall commence on the Effective Date ___, 2005 and shall continue thereafter unabated until terminated upon the earlier to occur of the following events: (i) the close of business on the fifth third (5th3rd) anniversary of this Agreement (with the initial five three (53) year term of this Agreement being referred to herein as the “Initial Term”) or (ii) otherwise as provided below, provided, however, that, on the fifth third anniversary of the date of this Agreement, and on every subsequent annual anniversary, and unless either party has given the other party written notice at least sixty (60) days prior to the such anniversary date, the term of this Agreement and the Employment Period shall be renewed for a term ending one (1) year subsequent to such date (each such one-year term shall be referred to herein as a “Renewal Term”), unless sooner terminated as provided herein. For the purposes of this Agreement, the Initial Term and each Renewal Term shall collectively be referred to as the “Employment Period”.

Employment Period Termination. (a) The Executive’s employment under this Agreement shall commence on the Effective Date ___, 2005 and shall continue thereafter unabated until terminated upon the earlier to occur of the following events: (i) the close of business on the fifth (5th) anniversary of this Agreement (with the initial five (5) year term of this Agreement being referred to herein as the “Initial Term”) or (ii) otherwise as provided below, provided, however, that, on the fifth anniversary of the date of this Agreement, and on every subsequent annual anniversary, and unless either party has given the other party written notice at least sixty (60) days prior to the such anniversary date, the term of this Agreement and the Employment Period shall be renewed for a term ending one (1) year subsequent to such date (each such one-year term shall be referred to herein as a “Renewal Term”), unless sooner terminated as provided herein. For the purposes of this Agreement, the Initial Term and each Renewal Term shall collectively be referred to as the “Employment Period”.