Common use of Nature of Employment; Term of Employment Clause in Contracts

Nature of Employment; Term of Employment. The Company hereby employs the Executive and the Executive agrees to serve the Company as its Co-Chairman and Co-Chief Executive Officer, upon the terms and conditions contained herein, for a term commencing as of January 1, 1997 and continuing until December 31, 2000 (the "Employment Term"); provided, however, that unless either the Company or the Executive gives notice that it or he desires to terminate this Agreement at least sixty (60) days prior to the date of its termination, this Agreement (including this Section 1) shall automatically be renewed for additional successive periods of one (1) year.

Nature of Employment; Term of Employment. The Company hereby ---------------------------------------- employs the Executive and the Executive agrees to serve the Company as its Co-Chairman President and Co-Chief Executive Officer, upon the terms and conditions contained herein, for a term commencing effective as of January October 1, 1997 1999 and continuing until December October 31, 2000 2003 (the "Employment Term"); provided, however, that unless either the Company or the Executive gives notice that it or he desires to terminate this Agreement at least sixty (60) days prior to the date of its termination, this Agreement (including this Section 1) shall automatically be renewed for additional successive periods of one (1) year.

Nature of Employment; Term of Employment. The Company hereby employs the Executive and the Executive agrees to serve the Company as its Co-Chairman President and Co-Chief Executive Operating Officer and, if requested, its Chief Financial Officer, upon the terms and conditions contained herein, for a term commencing as of January 1, 1997 and continuing until December 31, 2000 (the "Employment Term"); provided, however, that unless either the Company or the Executive gives notice that it or he desires to terminate this Agreement at least sixty (60) days prior to the date of its termination, this Agreement (including this this Section 1) shall automatically be renewed for additional successive periods of one (1) year.