Common use of Term; At-Will Employment Clause in Contracts

Term; At-Will Employment. Subject to the provisions for earlier termination hereinafter provided, the Executive’s employment hereunder shall initially be for a term (the “Term”) commencing on Closing Date (as defined in the Merger Agreement) and ending on the first anniversary of the Closing Date. To the extent the Executive remains an employee of the Company or Parent or any of their respective Affiliates following the expiration of the Term, such employment will be on an at-will basis. As such, following the expiration of the Term, the Executive’s employment may be terminated at any time, with or without cause, and with or without notice by the Executive or by the Company. In addition, from and after the expiration of the Term, the Company and/or Parent may change the terms of the Executive’s employment, with or without cause, and with or without notice. Such at-will relationship can only be changed by an agreement in writing signed by the Chief Executive Officer of Parent and approved in writing as to form by the General Counsel of Parent.