Common use of TERM OF EMPLOYMENT WITH AUTOMATIC RENEWAL PROVISIONS Clause in Contracts

TERM OF EMPLOYMENT WITH AUTOMATIC RENEWAL PROVISIONS. The period of Executive’s employment under this Agreement shall be deemed to have commenced on the Effective Date and shall continue for a period of approximately three (3) years through December 31, 2006. The term of employment of the Executive under this Agreement shall automatically be extended for one (1) additional year on December 31st of each year beginning December 31, 2004, unless either the Employer or the Executive notifies the other party, by written notice delivered no later than November 1st of such year, that the term of employment of the Executive under this Agreement shall not be extended for an additional year. In addition, upon the occurrence of a Change in Control (as defined below), the term of employment of the Executive under this Agreement shall be automatically renewed and extended to provide a term of employment (in accordance with the terms, and subject to the conditions, set forth herein) equal to a period of three (3) years from the date of the consummation of the Change in Control.

TERM OF EMPLOYMENT WITH AUTOMATIC RENEWAL PROVISIONS. The period of the Executive’s employment under this Agreement shall be deemed to have commenced on the Effective Date and shall continue for a period of approximately three (3) years through December 31, 20062011. The term of employment of the Executive under this Agreement shall automatically be extended for one (1) additional year on December 31st of each year beginning December 31, 20042009, unless either the Employer or the Executive notifies the other party, by written notice delivered no later than November 1st of such year, that the term of employment of the Executive under this Agreement shall not be extended for an additional year. In addition, upon the occurrence of a Change in Control (as defined below), the term of employment of the Executive under this Agreement shall be automatically renewed and extended to provide a term of employment (in accordance with the terms, and subject to the conditions, set forth herein) equal to a period of three (3) years from the date of the consummation of the Change in Control.