Common use of Initial Term and Extensions Clause in Contracts

Initial Term and Extensions. Except as otherwise provided, the term of this Agreement shall be in effect until June 30, 1999 and commencing with the effective date hereof. On June 30, 1999, and on each subsequent annual anniversary of this date thereafter, the term of the Agreement shall be automatically extended for an additional year unless either party notifies the other in writing more than 90 days prior to the relevant anniversary date that the Agreement is no longer to be extended. If, prior to June 30, 2009, Company notifies Employee of its desire not to extend this agreement, this will be considered termination by the Company other than by cause as described in Section 4.01.

Initial Term and Extensions. Except as otherwise provided, the term of this Agreement shall be in effect until June 30, 1999 1998 and commencing with the effective date hereof. On June 30, 19991998, and on each subsequent annual anniversary of this date thereafter, the term of the Agreement shall be automatically extended for an additional year unless either party notifies the other in writing more than 90 days prior to the relevant anniversary date that the Agreement is no longer to be extended. If, prior to June 30, 2009, Company notifies Employee of its desire not to extend this agreement, this will be considered termination by the Company other than by cause as described in Section 4.01.