Common use of Term and Positions Clause in Contracts

Term and Positions. (a) Subject to the provisions for extension or termination hereinafter stated, the term of this Employment Agreement shall begin as of September 8, 1997 (the "Effective Date") and shall continue through February 28, 2001 (the "Expiration Date"). As of March 1, 1999 and each successive anniversary thereof, such term automatically shall be extended for one (1) additional year, unless: (i) this Employment Agreement is terminated as provided in Paragraph 5 or (ii) either the Company or the Executive shall give written notice to the other at least thirty (30) days before the first anniversary of the Effective Date or any subsequent annual anniversary thereof, that this Employment Agreement shall not be so extended but shall terminate upon the expiration of the then existing term (for example, unless such written notice of non-extension is given on or prior to January 28, 1999, the term of this Employment Agreement automatically will be extended, effective March 1, 1999, until February 28, 2002). In the event of a "change of control" (as hereinafter defined) the term of this Employment Agreement shall automatically be extended for a term of two (2) years from the then existing Termination Date.

Appears in 1 contract

Samples: Employment Agreement (Fac Realty Trust Inc)

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Term and Positions. (a) Subject to the provisions for extension or termination hereinafter stated, the term of this Employment Agreement shall begin retroactively as of September 8August 26, 1997 1996 (the "Effective Date") and shall continue through February 28August 25, 2001 1999 (the "Expiration Date"). As of March 1the August 25, 1999 1997 and each successive anniversary thereof, such term automatically shall be extended for one (1) additional year, unless: (i) this Employment Agreement is terminated as provided in Paragraph 5 or (ii) either the Company or the Executive shall give written notice to the other at least thirty (30) days before the first anniversary of the Effective Expiration Date or any subsequent annual anniversary thereof, thereof that this Employment Agreement shall not be so extended but shall terminate upon the expiration of the then then-existing term (for example, unless such written notice of non-extension is given on or prior to January 28July 26, 19991997, the term of this Employment Agreement automatically will be extended, effective March 1August 26, 19991997, until February 28August 25, 20022000). In the event of a "change of control" (as hereinafter defined) the term of this Employment Agreement shall automatically be extended for a term of two (2) years from the then existing Termination Date.

Appears in 1 contract

Samples: Employment Agreement (Factory Stores of America Inc)

Term and Positions. (a) Subject to the provisions for extension or termination hereinafter stated, the term of this Employment Agreement shall begin as of September 8March 1, 1997 (the "Effective Date") and shall continue through February 2829, 2001 2000 (the "Expiration Date"). As of the March 1, 1999 1998 and each successive anniversary thereof, such term automatically shall be extended for one (1) additional year, unless: (i) this Employment Agreement is terminated as provided in Paragraph 5 or (ii) either the Company or the Executive shall give written notice to the other at least thirty (30) days before the first anniversary of the Effective Date or any subsequent annual anniversary thereof, that this Employment Agreement shall not be so extended but shall terminate upon the expiration of the then then-existing term (for example, unless such written notice of non-extension is given on or prior to January 28, 19991998, the term of this Employment Agreement automatically will be extended, effective March 1, 19991998, until February 28, 20022001). In the event of a "change of control" (as hereinafter defined) the term of this Employment Agreement shall automatically be extended for a term of two (2) years from the then existing Termination Date.

Appears in 1 contract

Samples: Employment Agreement (Fac Realty Trust Inc)

Term and Positions. (a) Subject to the provisions for extension or termination hereinafter stated, the term of this Employment Agreement shall begin as of September 8March 1, 1997 (the "Effective Date") and shall continue through February 2829, 2001 2000 (the "Expiration Date"). As of the March 1, 1999 1998 and each successive anniversary thereof, such term automatically shall be extended for one (1) additional year, unless: (i) this Employment Agreement is terminated as provided in Paragraph 5 or (ii) either the Company or the Executive shall give written notice to the other at least thirty (30) days before the first anniversary of the Effective Date or any subsequent annual anniversary thereof, that this Employment Agreement shall not be so extended but shall terminate upon the expiration of the then then-existing term (for example, unless such written notice of non-extension is given on or Or prior to January 28, 19991998, the term of this Employment Agreement automatically will be extended, effective March 1, 19991998, until February 28, 20022001). In the event of a "change of control" (as hereinafter defined) the term of this Employment Agreement shall automatically be extended for a term of two (2) years from the then existing Termination Date.

Appears in 1 contract

Samples: Employment Agreement (Fac Realty Trust Inc)

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Term and Positions. (a) Subject to the provisions for extension or termination hereinafter stated, the term of this Employment Agreement shall begin as of September 8April 1, 1997 1999 (the "Effective Date") and shall continue through February 28, 2001 2002 (the "Expiration Date"). As of March 1, 1999 the Expiration Date and each successive anniversary thereof, such term automatically shall be extended for one three (13) additional yearyears, unless: ; (i) this Employment Agreement is terminated as provided in Paragraph 5 or (ii) either the Company or the Executive shall give written notice to the other at least thirty (30) days before the first anniversary of the Effective Expiration Date or any subsequent annual anniversary thereof, that this Employment Agreement shall not be so extended but shall terminate upon the expiration of the then then-existing term (for example, unless such written notice of non-extension is given on or prior to January 2829, 19992002, the term of this Employment Agreement automatically will be extended, effective March 1, 1999, extended until February 28, 20022005). In the event of a "change of control" (as hereinafter defined) the term of this Employment Agreement shall automatically be extended for a term of two (2) years from the then existing Termination Date.

Appears in 1 contract

Samples: Employment Agreement (Konover Property Trust Inc)

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