Common use of TERMINATION AND EFFECTS OF TERMINATION Clause in Contracts

TERMINATION AND EFFECTS OF TERMINATION. 4.1 Should Employee remain employed by Employer beyond the expiration of the Term, such employment shall convert to a month-to-month relationship terminable at any time by either Employer or Employee for any reason whatsoever, with or without cause. Upon such termination of the employment relationship by either Employer or Employee for any reason whatsoever, all future compensation to which Employee is entitled and all future benefits for which Employee is eligible shall cease and terminate. Upon the expiration of the Term, Employer shall have no obligation to offer Employee a new employment agreement.