Common use of Term and Automatic Renewal Clause in Contracts

Term and Automatic Renewal. The term of this Agreement will be one year commencing as of the Effective Date. This Agreement will automatically renew for one additional year on each anniversary of the Effective Date unless this Agreement and Executive's employment hereunder are terminated in accordance with the provisions of this Section 3. Upon a Change of Control of the Holding Company, the term of this Agreement shall be a fixed term which shall commence upon the effective date of the Change of Control and end on the 3rd anniversary thereof.

Appears in 6 contracts

Samples: Management Continuity Agreement (PSB Group Inc), Management Continuity Agreement (PSB Group Inc), Management Continuity Agreement (PSB Group Inc)

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Term and Automatic Renewal. The term of this Agreement will be one year commencing as of the Effective Date. This Agreement will automatically renew for one additional year on each anniversary of the Effective Date unless this Agreement and Executive's employment hereunder are terminated in accordance with the provisions of this Section 3. Upon a Change of Control of the Holding Company, the term of this Agreement shall be a fixed term which shall commence upon the effective date of the Change of Control and end on the 3rd 2nd anniversary thereof.

Appears in 2 contracts

Samples: Management Continuity Agreement (PSB Group Inc), Management Continuity Agreement (PSB Group Inc)

Term and Automatic Renewal. The term of this Agreement will be one year commencing as of the Effective Date. This Agreement will automatically renew for one additional year on each anniversary of the Effective Date unless this Agreement and Executive's employment hereunder are terminated in accordance with the provisions of this Section 3. Upon a Change of Control of the Holding Company, the term of this Agreement shall be a fixed term which shall commence upon the effective Effective Date and end on the 4th anniversary of the Effective Date, or if later the end of the one year period following the date of the Change of Control and end on the 3rd anniversary thereofControl.

Appears in 1 contract

Samples: Management Continuity Agreement (PSB Group Inc)

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Term and Automatic Renewal. The term of this Agreement will be one year commencing as of the Effective Date. This Agreement will automatically renew for one additional year on each anniversary of the Effective Date unless this Agreement and Executive's employment hereunder are terminated in accordance with the provisions of this Section 3. Upon a Change of Control of the Holding Company, the term of this Agreement shall be a fixed term which shall commence upon the effective date of the Change of Control Effective Date and end on the 3rd anniversary thereofof the Effective Date, or if later the end of the one year period following the date of the Change of Control.

Appears in 1 contract

Samples: Management Continuity Agreement (PSB Group Inc)

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