Common use of Position and Term Clause in Contracts

Position and Term. The Company hereby employs Executive as Vice President of Research & Development, reporting directly to the Company’s Chief Executive Officer, and Executive hereby accepts said employment and agrees to render such services to the Company on the terms and conditions set forth in this Agreement. Unless terminated in accordance with Section 5 below, this Agreement shall terminate five (5) years from the Effective Date of this Agreement (the “Initial Term”); provided, however, that, while this Agreement is in effect, beginning one (1) year following the Effective Date and continuing on each one-year anniversary of the Agreement (the “Annual Renewal Date”), this Agreement shall be automatically extended for an additional one (1) year (“Renewal Term”), unless one of the Parties gives the other Party written notice of non-renewal (in accordance with Section 6.2 below) at least thirty (30) days before the impending Annual Renewal Date (in which event this Agreement shall continue in effect for the remainder of the then current Term). Reference herein to “Term” shall refer both to the Initial Term and any successive Renewal Term, as the context requires.

Appears in 1 contract

Samples: Employment Agreement (American Defense Systems Inc)

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Position and Term. The Company hereby employs Executive as Vice President of Research & DevelopmentProgram Management, reporting directly to the Company’s Chief Executive Officer, and Executive hereby accepts said employment and agrees to render such services to the Company on the terms and conditions set forth in this Agreement. Unless terminated in accordance with Section 5 below, this Agreement shall terminate five (5) years from the Effective Date of this Agreement (the “Initial Term”); provided, however, that, while this Agreement is in effect, beginning one (1) year following the Effective Date and continuing on each one-year anniversary of the Agreement (the “Annual Renewal Date”), this Agreement shall be automatically extended for an additional one (1) year (“Renewal Term”), unless one of the Parties gives the other Party written notice of non-renewal (in accordance with Section 6.2 below) at least thirty (30) days before the impending Annual Renewal Date (in which event this Agreement shall continue in effect for the remainder of the then current Term). Reference herein to “Term” shall refer both to the Initial Term and any successive Renewal Term, as the context requires.

Appears in 1 contract

Samples: Employment Agreement (American Defense Systems Inc)

Position and Term. The Company hereby employs Executive as Vice President of Research & DevelopmentMilitary Sales, reporting directly to the Company’s Chief Executive Officer, and Executive hereby accepts said employment and agrees to render such services to the Company on the terms and conditions set forth in this Agreement. Unless terminated in accordance with Section 5 below, this Agreement shall terminate five (5) years from the Effective Date of this Agreement (the “Initial Term”); provided, however, that, while this Agreement is in effect, beginning one (1) year following the Effective Date and continuing on each one-year anniversary of the Agreement (the “Annual Renewal Date”), this Agreement shall be automatically extended for an additional one (1) year (“Renewal Term”), unless one of the Parties gives the other Party written notice of non-renewal (in accordance with Section 6.2 below) at least thirty (30) days before the impending Annual Renewal Date (in which event this Agreement shall continue in effect for the remainder of the then current Term). Reference herein to “Term” shall refer both to the Initial Term and any successive Renewal Term, as the context requires.

Appears in 1 contract

Samples: Employment Agreement (American Defense Systems Inc)

Position and Term. The Company hereby employs Executive as Vice President of Research & DevelopmentEngineering, reporting directly to the Company’s Chief Executive Officer, and Executive hereby accepts said employment and agrees to render such services to the Company on the terms and conditions set forth in this Agreement. Unless terminated in accordance with Section 5 below, this Agreement shall terminate five (5) years from the Effective Date of this Agreement (the “Initial Term”); provided, however, that, while this Agreement is in effect, beginning one (1) year following the Effective Date and continuing on each one-year anniversary of the Agreement (the “Annual Renewal Date”), this Agreement shall be automatically extended for an additional one (1) year (“Renewal Term”), unless one of the Parties gives the other Party written notice of non-renewal (in accordance with Section 6.2 below) at least thirty (30) days before the impending Annual Renewal Date (in which event this Agreement shall continue in effect for the remainder of the then current Term). Reference herein to “Term” shall refer both to the Initial Term and any successive Renewal Term, as the context requires.

Appears in 1 contract

Samples: Employment Agreement (American Defense Systems Inc)

Position and Term. The Company hereby employs Executive as Vice President of Research & DevelopmentChief Financial Officer, reporting directly to the Company’s Chief Executive Officer, and Executive hereby accepts said employment and agrees to render such services to the Company on the terms and conditions set forth in this Agreement. Unless terminated in accordance with Section 5 below, this Agreement shall terminate five (5) years from the Effective Date of this Agreement (the “Initial Term”); provided, however, that, while this Agreement is in effect, beginning one (1) year following the Effective Date and continuing on each one-year anniversary of the Agreement (the “Annual Renewal Date”), this Agreement shall be automatically extended for an additional one (1) year (“Renewal Term”), unless one of the Parties gives the other Party written notice of non-renewal (in accordance with Section 6.2 below) at least thirty (30) days before the impending Annual Renewal Date (in which event this Agreement shall continue in effect for the remainder of the then current Term). Reference herein to “Term” shall refer both to the Initial Term and any successive Renewal Term, as the context requires.

Appears in 1 contract

Samples: Employment Agreement (American Defense Systems Inc)

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Position and Term. The Company hereby employs Executive as Vice President of Research & DevelopmentChief Operating Officer, reporting directly to the Company’s Chief Executive Officer, and Executive hereby accepts said employment and agrees to render such services to the Company on the terms and conditions set forth in this Agreement. Unless terminated in accordance with Section 5 below, the term of this Agreement shall terminate will be for a term of five (5) years from commencing on the Effective Date of this Agreement (the “Initial Term”); provided, however, that, while this Agreement is in effect, beginning one (1) year following the Effective Date and continuing on each one-year anniversary date of the Agreement (the “Annual Renewal Date”), this Agreement shall will be automatically extended for an additional one (1) year (“Renewal Term”), unless one of the Parties gives the other Party written notice of non-renewal (in accordance with Section 6.2 below) at least thirty (30) days before the impending Annual Renewal Date (in which event this Agreement shall continue in effect for terminate at the remainder end of the then current Term). .) Reference herein to “Term” shall refer both to the Initial Term and any successive Renewal Term, as the context requires.

Appears in 1 contract

Samples: Employment Agreement (American Defense Systems Inc)

Position and Term. The Company hereby employs Executive as Vice President of Research & DevelopmentChief Executive Officer, reporting directly to the Company’s Chief Executive OfficerBoard, and Executive hereby accepts said employment and agrees to render such services to the Company on the terms and conditions set forth in this Agreement. Unless terminated in accordance with Section 5 below, this Agreement shall terminate five (5) years from the Effective Date of this Agreement (the “Initial Term”); provided, however, that, while this Agreement is in effect, beginning one (1) year following the Effective Date and continuing on each one-year anniversary of the Agreement (the “Annual Renewal Date”), this Agreement shall be automatically extended for an additional one (1) year (“Renewal Term”), unless one of the Parties gives the other Party written notice of non-renewal (in accordance with Section 6.2 below) at least thirty (30) days before the impending Annual Renewal Date (in which event this Agreement shall continue in effect for the remainder of the then current Term). Reference herein to “Term” shall refer both to the Initial Term and any successive Renewal Term, as the context requires.

Appears in 1 contract

Samples: Employment Agreement (American Defense Systems Inc)

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