Common use of Termination Upon Expiration of Term Clause in Contracts

Termination Upon Expiration of Term. If not otherwise terminated hereunder, the Employment Agreement shall terminate at the end of the Initial Term; however, prior to the expiration of the Initial Term, the Company and the Employee may elect, in writing, to renew this Agreement for successive two (2) year terms (which successive terms, if elected, shall together with the Initial Term constitute the "Term" of the Agreement).

Appears in 2 contracts

Samples: Employment Contract (TRX Inc/Ga), Employment Contract (TRX Inc/Ga)

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Termination Upon Expiration of Term. If not otherwise terminated hereunder, the Employment Agreement Contract shall terminate at the end of the Initial Term; however, prior to the expiration of the Initial Term, the Company and the Employee may elect, in writing, to renew this Agreement Employment Contract for successive an additional two (2) year terms term (which successive termsadditional term, if elected, shall together with the Initial Term constitute the "Term" of the AgreementEmployment Contract).

Appears in 1 contract

Samples: Employment Contract (TRX Inc/Ga)

Termination Upon Expiration of Term. If not otherwise terminated hereunder, the Employment Agreement shall terminate at the end of the Initial Term; however, prior to the expiration of the Initial Term, the Company and the Employee may elect, in writing, to renew this Agreement for successive an additional two (2) year terms term (which successive termsadditional term, if elected, shall together with the Initial Term constitute the "Term" of the Agreement).

Appears in 1 contract

Samples: Employment Contract (TRX Inc/Ga)

Termination Upon Expiration of Term. If not otherwise terminated hereunder, the Employment Agreement shall terminate at the end of the Initial Term; however, prior to the expiration of the Initial Term, the Company and the Employee may elect, in writing, to renew this Agreement for successive two (2) year terms (which successive terms, if elected, shall together with the Initial Term constitute the "Term" of the Agreement).

Appears in 1 contract

Samples: Employment Contract (TRX Inc/Ga)

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Termination Upon Expiration of Term. If not otherwise terminated hereunder, the Employment Agreement Contract shall terminate at the end of the Initial Term; however, prior to the expiration of the Initial Term, the Company and the Employee may elect, in writing, no later than six (6) months prior to the expiration of the Initial Term or any subsequent term, to renew this Agreement Employment Contract for successive two one (21) year terms (which successive terms, if elected, shall together with the Initial Term constitute the "Term" of the AgreementEmployment Contract).

Appears in 1 contract

Samples: Employment Contract (TRX Inc/Ga)

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