Common use of Term and Operation of Agreement Clause in Contracts

Term and Operation of Agreement. (a) This Agreement shall be effective and binding as of the date of its execution as first noted above (the “Effective Date”) and this Agreement shall continue in effect until December 31, 2015 (the “Term”). Thereafter, this Agreement will automatically renew on January 1st of each year for successive one-year terms unless not later than October 31st preceding the upcoming renewal date, either HHC or Executive gives the other written notice terminating this Agreement at the end of the current term. Notwithstanding the preceding, this Agreement shall earlier terminate, automatically, upon Executive’s termination of employment with the Company prior to the end of the Term of this Agreement or any renewal thereof. In such event, all obligations of either party under this Agreement shall terminate except as otherwise specifically provided herein. (b) Although this Agreement shall become effective and binding as of the Effective Date noted in Section 1(a) above, this Agreement shall not be effective and binding as an Employment Agreement and the provisions of Sections 2, 3, and 4 of this Agreement shall not be operative unless and until there shall have occurred a Change in Control (as hereinafter defined) during the Term as defined in Section 1(a) or any renewal thereof. (c) HHC and Executive acknowledge and agree that Executive’s employment by the Company is at will and that Executive may resign from employment with the Company at any time, whether before or after this Agreement becomes effective as an Employment Agreement and whether before or after the occurrence of a Change in Control. Executive further acknowledges and agrees that Executive’s employment is at the pleasure of the Board of Directors (or, to the extent so delegated by such Board of Directors, the Chief Executive Officer) of HHC or the Subsidiary by which Executive is employed and that Executive may be removed at any time by such Board of Directors (or, to the extent so delegated by such Board of Directors, the Chief Executive Officer).

Term and Operation of Agreement. (a) This Agreement shall be effective and binding as of the date of its execution as first noted above (the “Effective Date”) and this Agreement shall continue in effect until December 31, 2015 (the “Term”). Thereafter, this Agreement will automatically renew on January 1st of each year for successive one-year terms unless not later than October 31st preceding the upcoming renewal date, either HHC or Executive gives the other written 1 All except Xx. Xxxxxxxxx notice terminating this Agreement at the end of the current term. Notwithstanding the preceding, this Agreement shall earlier terminate, automatically, upon Executive’s termination of employment with the Company prior to the end of the Term of this Agreement or any renewal thereof. In such event, all obligations of either party under this Agreement shall terminate except as otherwise specifically provided herein. (b) Although this Agreement shall become effective and binding as of the Effective Date noted in Section 1(a) above, this Agreement shall not be effective and binding as an Employment Agreement and the provisions of Sections 2, 3, and 4 of this Agreement shall not be operative unless and until there shall have occurred a Change in Control (as hereinafter defined) during the Term as defined in Section 1(a) or any renewal thereof. (c) HHC and Executive acknowledge and agree that Executive’s employment by the Company is at will and that Executive may resign from employment with the Company at any time, whether before or after this Agreement becomes effective as an Employment Agreement and whether before or after the occurrence of a Change in Control. Executive further acknowledges and agrees that Executive’s employment is at the pleasure of the Board of Directors (or, to the extent so delegated by such Board of Directors, the Chief Executive Officer) of HHC or the Subsidiary by which Executive is employed and that Executive may be removed at any time by such Board of Directors (or, to the extent so delegated by such Board of Directors, the Chief Executive Officer).

Term and Operation of Agreement. (a) This Agreement shall be effective and binding as of the date of its execution as first noted above (the “Effective Date”) and this Agreement shall continue in effect until December 31, 2015 2017 (the “Term”). Thereafter, this Agreement will automatically renew for successive three-year terms beginning on January 1st of the year immediately following the end of each year for successive one-year terms unless term unless, not later than October 31st preceding the upcoming renewal date, either HHC or Executive gives the other written notice terminating this Agreement at the end of the then-current term. Notwithstanding the preceding, this Agreement shall earlier terminate, automatically, upon Executive’s termination of employment with the Company prior to the end of the Term of this Agreement or any renewal thereof. In such event, all obligations of either party under this Agreement shall terminate except as otherwise specifically provided herein. (b) Although this Agreement shall become effective and binding as of the Effective Date noted in Section 1(a) above, this Agreement shall not be effective and binding as an Employment Agreement and the provisions of Sections 2, 3, and 4 of this Agreement shall not be operative unless and until there shall have occurred a Change in Control (as hereinafter defined) during the Term as defined in Section 1(a) or any renewal thereof. (c) HHC and Executive acknowledge and agree that Executive’s employment by the Company is at will and that Executive may resign from employment with the Company at any time, whether before or after this Agreement becomes effective as an Employment Agreement and whether before or after the occurrence of a Change in Control. Executive further acknowledges and agrees that Executive’s employment is at the pleasure of the Board of Directors (or, to the extent so delegated by such Board of Directors, the Chief Executive Officer) of HHC or the Subsidiary by which Executive is employed and that Executive may be removed at any time by such Board of Directors (or, to the extent so delegated by such Board of Directors, the Chief Executive Officer).

Term and Operation of Agreement. (a) This Agreement shall be effective and binding as of the date of its execution as first noted above (the “"Effective Date”") and this Agreement shall continue in effect until December 31, 2015 2023 (the “"Term”"). Thereafter, this Agreement will automatically renew for successive three-year terms beginning on January 1st of the year immediately following the end of each year for successive one-year terms unless term unless, not later than October 31st preceding the upcoming renewal date, either HHC HWC or Executive gives the other written notice terminating this Agreement at the end of the then-current term. Notwithstanding the preceding, this Agreement shall earlier terminate, automatically, upon Executive’s 's termination of employment with the Company prior to the end of the Term of this Agreement or any renewal thereof. In such event, all obligations of either party under this Agreement shall terminate except as otherwise specifically provided herein. (b) Although this Agreement shall become effective and binding as of the Effective Date noted in Section 1(a) above, the "Employment Period" under this Agreement shall not be effective and binding as an Employment Agreement commence and the provisions of Sections 2, 3, 4 and 4 5 of this Agreement shall not be operative unless and until there shall have occurred a Change in Control (as hereinafter defined) during the Term as defined in Section 1(a) or any renewal thereof. (c) HHC HWC and Executive acknowledge and agree that Executive’s 's employment by the Company is at will and that Executive may resign from employment with the Company at any time, whether before or after this Agreement becomes effective as an the Employment Agreement Period and whether before or after the occurrence of a Change in Control. Executive further acknowledges and agrees that Executive’s 's employment is at the pleasure of the Board of Directors (or, to the extent so delegated by such Board of Directors, the Chief Executive Officer) of HHC HWC or the Subsidiary by which Executive is employed and that Executive may be removed at any time by such Board of Directors (or, to the extent so delegated by such Board of Directors, the Chief Executive Officer).