Common use of Term and Employment Period Clause in Contracts

Term and Employment Period. The period of Employee’s employment with the Company (the “Employment Period”) that commenced in accordance with the terms of the Prior Agreement will end on the date of Employee’s termination of employment. The term of this Agreement shall commence on the Effective Date and end at 12:00 o’clock midnight on January 25, 2010; thereafter, the term of the Agreement will be automatically extended for successive terms of one (1) year commencing on January 25th of each year; unless the Company or Employee gives written notice to the other that the Agreement will not be renewed or continued after the next scheduled expiration date which is not less than one (1) year after the date that the notice of non-renewal was given. Notwithstanding the above, this Agreement will automatically expire at the end of the term during which Employee attains age 65. Immediately upon termination of employment with the Company, Employee agrees to resign from all officer and director positions held with the Company and its affiliates.

Appears in 1 contract

Samples: Employment Agreement (Pride International Inc)

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Term and Employment Period. The period of Employee’s employment with the Company (the “Employment Period”) that commenced in accordance with the terms of the Prior Agreement will end on the date of Employee’s termination of employment. The term of this Agreement shall commence on the Effective Date and end at 12:00 o’clock midnight on January 25June 1, 20102009; thereafter, the term of the Agreement will be automatically extended for successive terms of one (1) year commencing on January 25th June 1st of each year; unless the Company or Employee gives written notice to the other that the Agreement will not be renewed or continued after the next scheduled expiration date which is not less than one (1) year after the date that the notice of non-renewal was given. Notwithstanding the above, this Agreement will automatically expire at the end of the term during which Employee attains age 65. Immediately upon termination of employment with the Company, Employee agrees to resign from all officer and director positions held with the Company and its affiliates.

Appears in 1 contract

Samples: Employment Agreement (Pride International Inc)

Term and Employment Period. The period of Employee’s employment with the Company (the “Employment Period”) that commenced in accordance with the terms of the Prior Agreement will end on the date of Employee’s termination of employment. The term of this Agreement shall commence on the Effective Date and end at 12:00 o’clock midnight on January 25February 28, 2010; thereafter, the term of the Agreement will be automatically extended for successive terms of one (1) year commencing on January 25th February 28th of each year; unless the Company or Employee gives written notice to the other that the Agreement will not be renewed or continued after the next scheduled expiration date which is not less than one (1) year after the date that the notice of non-renewal was given. Notwithstanding the above, this Agreement will automatically expire at the end of the term during which Employee attains age 65. Immediately upon termination of employment with the Company, Employee agrees to resign from all officer and director positions held with the Company and its affiliates.

Appears in 1 contract

Samples: Employment Agreement (Pride International Inc)

Term and Employment Period. The period of Employee’s employment with the Company (the “Employment Period”) that commenced in accordance with the terms of the Prior Agreement will end on the date of Employee’s termination of employment. The term of this Agreement shall commence on the Effective Date and end at 12:00 o’clock midnight on January 25December 3, 20102009; thereafter, the term of the Agreement will be automatically extended for successive terms of one (1) year commencing on January 25th December 3rd of each year; unless the Company or Employee gives written notice to the other that the Agreement will not be renewed or continued after the next scheduled expiration date which is not less than one (1) year after the date that the notice of non-renewal was given. Notwithstanding the above, this Agreement will automatically expire at the end of the term during which Employee attains age 65. Immediately upon termination of employment with the Company, Employee agrees to resign from all officer and director positions held with the Company and its affiliates.

Appears in 1 contract

Samples: Employment Agreement (Pride International Inc)

Term and Employment Period. The period of Employee’s employment with the Company (the “Employment Period”) that commenced in accordance with the terms of the Prior Agreement will end on the date of Employee’s termination of employment. The term of this Agreement shall commence on the Effective Date and end at 12:00 o’clock midnight on January 25December 4, 20102009; thereafter, the term of the Agreement will be automatically extended for successive terms of one (1) year commencing on January 25th December 4th of each year; unless the Company or Employee gives written notice to the other that the Agreement will not be renewed or continued after the next scheduled expiration date which is not less than one (1) year after the date that the notice of non-renewal was given. Notwithstanding the above, this Agreement will automatically expire at the end of the term during which Employee attains age 65. Immediately upon termination of employment with the Company, Employee agrees to resign from all officer and director positions held with the Company and its affiliates.

Appears in 1 contract

Samples: Employment Agreement (Pride International Inc)

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Term and Employment Period. The period of Employee’s employment with the Company (the “Employment Period”) that commenced in accordance with the terms of the Prior Agreement will end on the date of Employee’s termination of employment. The term of this Agreement shall commence on the Effective Date and end at 12:00 o’clock midnight on January 25March 15th, 2010; thereafter, the term of the Agreement will be automatically extended for successive terms of one (1) year commencing on January 25th March 15th of each year; unless the Company or Employee gives written notice to the other that the Agreement will not be renewed or continued after the next scheduled expiration date which is not less than one (1) year after the date that the notice of non-renewal was given. Notwithstanding the above, this Agreement will automatically expire at the end of the term during which Employee attains age 65. Immediately upon termination of employment with the Company, Employee agrees to resign from all officer and director positions held with the Company and its affiliates.

Appears in 1 contract

Samples: Employment Agreement (Pride International Inc)

Term and Employment Period. The period of Employee’s employment with the Company (the “Employment Period”) that commenced in accordance with the terms of the Prior Agreement will end on the date of Employee’s termination of employment. The term of this Agreement shall commence on the Effective Date and end at 12:00 o’clock midnight on January 25September 18, 20102009; thereafter, the term of the Agreement will be automatically extended for successive terms of one (1) year commencing on January 25th September 18th of each year; unless the Company or Employee gives written notice to the other that the Agreement will not be renewed or continued after the next scheduled expiration date which is not less than one (1) year after the date that the notice of non-renewal was given. Notwithstanding the above, this Agreement will automatically expire at the end of the term during which Employee attains age 65. Immediately upon termination of employment with the Company, Employee agrees to resign from all officer and director positions held with the Company and its affiliates.

Appears in 1 contract

Samples: Employment Agreement (Pride International Inc)

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