Common use of Term and Annual Renewal Clause in Contracts

Term and Annual Renewal. The initial term of this Agreement shall begin as of the Effective Date and shall continue for twenty-four (24) months. Commencing on the first anniversary date of the Effective Date (the "Anniversary Date") and continuing on each Anniversary Date thereafter, the term of this Agreement shall renew for an additional year so that the remaining term of this Agreement is twenty-four (24) months; provided, however, that the disinterested members of the Boards of Directors must take the following actions within the time frames set forth below prior to each Anniversary Date: (1) at least 30 days prior to each Anniversary Date, conduct or review a comprehensive performance evaluation of the Executive for purposes of determining whether to extend this Agreement; and (2) affirmatively approve the renewal or non-renewal of this Agreement, which decision shall be included in the minutes of the meeting of the Board of Directors. If the decision of the disinterested members of the Board of Directors is not to renew this Agreement, then the Board of Directors shall provide the Executive with a written notice of non-renewal (the "Non-Renewal Notice") prior to any Anniversary Date, and the term of this Agreement shall terminate at the end of the then remaining term. Reference herein to the term of this Agreement shall refer to both the initial term and any extended terms.

Term and Annual Renewal. The initial term of this Agreement shall begin as of the Effective Date and shall continue for twenty-four twelve (2412) months. Commencing on the first anniversary date of September 1 following the Effective Date (the "Anniversary “Renewal Date"”) and continuing on each Anniversary Renewal Date thereafter, the term of this Agreement shall renew for an additional year so that the remaining term of this Agreement is twenty-four twelve (2412) months; provided, however, that the disinterested members of the Boards of Directors must take the following actions within the time frames set forth below prior to each Anniversary Renewal Date: (1) at least 30 days prior to each Anniversary Renewal Date, conduct or review a comprehensive performance evaluation of the Executive for purposes of determining whether to extend this Agreement; and (2) affirmatively approve the renewal or non-renewal of this Agreement, which decision shall be included in the minutes of the meeting of the Board of Directors. If the decision of the disinterested members of the Board of Directors is not to renew this Agreement, then the Board of Directors shall provide the Executive with a written notice of non-renewal (the "“Non-Renewal Notice"”) prior to any Anniversary Renewal Date, and the term of this Agreement shall terminate at the end of the then remaining term. Reference herein to the term of this Agreement shall refer to both the initial term and any extended terms.

Term and Annual Renewal. The initial term of this Agreement shall begin as of the Effective Date and shall continue for continuefor twenty-four (24) months. Commencing on the first anniversary date of the Effective Date (the "Anniversary Date") and continuing on each Anniversary Date thereafter, the term of this Agreement shall renew for an additional year so that the remaining term of this Agreement is twenty-four (24) months; provided, however, that the disinterested members of the Boards of Directors must take the following actions within the time frames set forth below prior to each Anniversary Date: (1) at least 30 days prior to each Anniversary Date, conduct or review a comprehensive performance evaluation of the Executive for purposes of determining whether to extend this Agreement; and (2) affirmatively approve the renewal or non-renewal of this Agreement, which decision shall be included in the minutes of the meeting of the Board of Directors. If the decision of the disinterested members of the Board of Directors is not to renew this Agreement, then the Board of Directors shall provide the Executive with a written notice of non-renewal (the "Non-Renewal Notice") prior to any Anniversary Date, and the term of this Agreement shall terminate at the end of the then remaining term. Reference herein to the term of this Agreement shall refer to both the initial term and any extended terms.

Term and Annual Renewal. The initial term of this Agreement shall begin as of the Effective Date and shall continue for twentythirty-four six (2436) months. Commencing on the first anniversary date of the Effective Date (the "Anniversary Date") and continuing on each Anniversary Date thereafter, the term of this Agreement shall renew for an additional year so that the remaining term of this Agreement is twentythirty-four six (2436) months; provided, however, that the disinterested members of the Boards of Directors must take the following actions within the time frames set forth below prior to each Anniversary Date: (1) at least 30 days prior to each Anniversary Date, conduct or review a comprehensive performance evaluation of the Executive for purposes of determining whether to extend this Agreement; and (2) affirmatively approve the renewal or non-renewal of this Agreement, which decision shall be included in the minutes of the meeting of the Board of Directors. If the decision of the disinterested members of the Board of Directors is not to renew this Agreement, then the Board of Directors shall provide the Executive with a written notice of non-renewal (the "Non-Renewal Notice") prior to any Anniversary Date, and the term of this Agreement shall terminate at the end of the then remaining term. Reference herein to the term of this Agreement shall refer to both the initial term and any extended terms.