Common use of EXPIRATION OF EMPLOYMENT TERM; NON-EXTENSION OF AGREEMENT Clause in Contracts

EXPIRATION OF EMPLOYMENT TERM; NON-EXTENSION OF AGREEMENT. Upon the expiration of the Employment Term due to a non-extension of the Agreement by the Company or the Employee pursuant to the provisions of Section 2 hereof, (i) for purposes of Section 8, if the Employee is willing to enter into such an extension, the non-extension of the Agreement shall be considered a termination by the Company without Cause and (ii) if the Company is willing to enter into such an extension, the non-extension shall be considered a resignation by the Employee without Good Reason.