Common use of Term of Employment and Renewal Clause in Contracts

Term of Employment and Renewal. Subject to the other provisions of Sections 2 and 8 below, the term of Employee’s employment with the Company pursuant to this Agreement shall be for the period commencing on the Effective Date and ending on January 1, 2023. The period of time between the Effective Date and the termination of Employee’s employment hereunder shall be referred to herein as the “Term.” The Term shall be renewed thereafter on an annual basis for a one-year term beginning January 1, 2023 to January 1, 2024, and for each successive year thereafter, unless one Party provides to the other Party a written notice not to renew the Term of employment on or before one hundred eighty (180) days before the commencement of the renewal period or (ii) the Employee has reached age 65, in which case the Agreement shall terminate automatically unless the parties agree otherwise.

Term of Employment and Renewal. Subject to the other provisions of Sections 2 and 8 below, the term of Employee’s employment with the Company pursuant to this Agreement shall be for the period commencing on the Effective Date and ending on January 1, 20232024. The period of time between the Effective Date and the termination of Employee’s employment hereunder shall be referred to herein as the “Term.” The Term shall be renewed thereafter on an annual basis for a one-year term beginning January 1, 2023 2024 to January 1, 20242025, and for each successive year thereafter, unless one Party provides to the other Party a written notice not to renew the Term of employment on or before one hundred eighty ninety (18090) days before the commencement of the renewal period or (ii) the Employee has reached age 65, in which case the Agreement shall terminate automatically unless the parties agree otherwise.