Common use of Non-Renewal Procedure Clause in Contracts

Non-Renewal Procedure. The Company (with the affirmative vote of two-thirds (2/3) of the non-management membership of the Board of Directors at a meeting of the Board of Directors called and held for such purpose) or Executive may elect to terminate the automatic extension of this Agreement described in Section 2.1 by giving written notice of such election. Any notice given hereunder must be given not less than sixty (60) days prior to the applicable Automatic Extension Date.