Common use of Past Agreements/Employment Term Clause in Contracts

Past Agreements/Employment Term. a) All past agreements of employment, oral or written, between the Company and Executive, shall, as of the IPO Effective Date, terminate and be of no further force or effect. For the avoidance of doubt, it is expressly stated that Executive remains entitled to any deferred wages, salary, bonuses or other cash compensation, any unreimbursed expenses, and any grants of equity or options, to which Executive became entitled under any past employment agreements. b) The Company agrees to employ the Executive “at will” pursuant to the terms of this Agreement and the Executive agrees to be so employed. Nothing in this Agreement is intended to create a promise or representation of continued employment or employment for a fixed period of time. The period of time between the IPO Effective Date and the termination of the Executive’s employment shall be referred to as the “Term.”

Past Agreements/Employment Term. a) All past agreements of employment, oral or written, between the Company and Executive, shall, as of the IPO Effective Date, terminate and be of no further force or effect. For the avoidance of doubt, it is expressly stated that Executive remains entitled to any deferred wages, salary, bonuses or other cash compensation, any unreimbursed expenses, and any grants of equity or options, to which Executive became entitled under any past employment agreementsagreements or as a result of any past service to the Company. b) The Company agrees to employ the Executive “at will” pursuant to the terms of this Agreement and the Executive agrees to be so employed. Nothing in this Agreement is intended to create a promise or representation of continued employment or employment for a fixed period of time. The period of time between the IPO Effective Date and the termination of the Executive’s employment shall be referred to as the “Term.”