Common use of Term and Nature of Agreement Clause in Contracts

Term and Nature of Agreement. This Agreement shall commence as of the date hereof and shall continue in effect until February 17, 2002. As of February 17, 2002 and each third February 17th occurring thereafter, this Agreement shall be automatically renewed for a term of three (3) years unless Company gives written notice to Employee at least 90 days prior to the renewal date that this Agreement will not be extended. Notwithstanding the foregoing, if a Change in Control (as hereinafter defined) occurs during the last two (2) years of any term of this Agreement, the term of this Agreement shall automatically be extended for a period of twenty-four (24) months after the end of the month in which the Change in Control occurs. Furthermore, Employee may terminate this Agreement at any time by giving Company 30 days' advance written notice. This Agreement shall be construed and enforced under the Employee Retirement Income Security Act of 1974, as amended ("ERISA") as an unfunded welfare benefit plan. The Agreement shall be administered by the Compensation Committee of the Board of Directors of the Company (the "Committee").

Term and Nature of Agreement. This Agreement shall commence as of the date hereof and shall continue in effect until February 17May 1, 2002. As of February 17May 1, 2002 and each third February 17th May 1st occurring thereafter, this Agreement shall be automatically renewed for a term of three (3) years unless Company gives written notice to Employee at least 90 days prior to the renewal date that this Agreement will not be extended. Notwithstanding the foregoing, if a Change in Control (as hereinafter defined) occurs during the last two (2) years of any term of this Agreement, the term of this Agreement shall automatically be extended for a period of twenty-four (24) months after the end of the month in which the Change in Control occurs. Furthermore, Employee may terminate this Agreement at any time by giving Company 30 days' advance written notice. This Agreement shall be construed and enforced under the Employee Retirement Income Security Act of 1974, as amended ("ERISA") as an unfunded welfare benefit plan. The Agreement shall be administered by the Compensation Committee of the Board of Directors of the Company (the "Committee").