Common use of Term and Nature of Employment Clause in Contracts

Term and Nature of Employment. 3.01 Executive’s employment on the basis described in this Agreement shall commence April 3, 2014, and will terminate on the one-year anniversary of that date unless terminated earlier as described in this Agreement. Neither the Company nor Executive shall be obligated to extend the term of this Agreement. However, the initial one-year term shall automatically be extended for successive one-year periods unless the Company or Executive elects not to do so by giving written notice to the other not less than 90 days prior to the end of the then-current term. 3.02 The terms and conditions of this Agreement may be amended from time to time with the consent of the Company and Executive. All such amendments shall be effective when memorialized by a written agreement between the Company and Executive, following approval by the Board or the Board’s Compensation Committee (the “Committee”). Executive’s employment with the Company shall at all times be on an “at will” basis, meaning that either Executive or the Company may terminate the employment relationship at any time for any reason or no reason; provided, however, that Executive may be entitled to certain compensation upon termination to the extent provided in Section 6.03.

Term and Nature of Employment. 3.01 Executive’s employment on the basis described in this Agreement shall commence April 3January 1, 2014, 2011 and will terminate on the one-year anniversary of that date effective December 31, 2011, unless terminated earlier as described in this Agreement. Neither the Company nor Executive shall be obligated to extend the term of this Agreement. However, the initial one-year such term shall automatically be extended for successive one-one (1) year periods unless the Company or Executive elects not to do so by giving written notice to the other not less than 90 thirty (30) days prior to the end of the then-current term. 3.02 initial term or any extension period. The terms and conditions of this Agreement may be amended from time to time with the consent of the Company and Executive. All such amendments shall be effective when memorialized by a written agreement between the Company and Executive, following approval by the Board or the BoardCompany’s Compensation Committee (the “Committee”). Executive’s employment with the Company shall at all times be on an “at will” basis, meaning that either Executive or the Company may terminate the employment relationship at any time for any reason or no reason; provided, however, that Executive may be entitled to certain compensation upon termination to the extent provided in Section 6.03.

Term and Nature of Employment. 3.01 Executive’s employment on the basis described in this Agreement shall commence April 3, 2014, on the Effective Date and will terminate on the one-year anniversary of that date the Effective Date unless terminated earlier as described in this Agreement. Neither the Company nor Executive shall be obligated to extend the term of this Agreement. However, the initial one-year term shall automatically be extended for successive one-year periods unless the Company or Executive elects not to do so by giving written notice to the other not less than 90 days prior to the end of the then-current term. 3.02 The terms and conditions of this Agreement may be amended from time to time with the consent of the Company and Executive. All such amendments shall be effective when memorialized by a written agreement between the Company and Executive, following approval by the Board or the Board’s Compensation Committee (the “Committee”). Executive’s employment with the Company shall at all times be on an “at will” basis, meaning that either Executive or the Company may terminate the employment relationship at any time for any reason or no reason; provided, however, that Executive may be entitled to certain compensation upon termination to the extent provided in Section 6.03.