Common use of Acceptance and Term of Employment Clause in Contracts

Acceptance and Term of Employment. The Company agrees to employ Employee and Employee agrees to serve the Company on the terms and conditions set forth herein. Subject to earlier termination pursuant to Section 8 hereof, the term of employment shall commence on the Commencement Date and shall continue until the second anniversary of the Commencement Date (the “Initial Term”), and shall automatically extend for additional one (1) year terms thereafter (each, a “Renewal Term” and, together with the Initial Term, the “Term of Employment”), unless either the Employee or the Company provides written notice (a “Notice of Non-Extension”) to the other party of its intention not to extend the agreement at least twelve (12) months prior to the expiration of the Initial Term or the Renewal Term, as applicable.

Acceptance and Term of Employment. The Company agrees to employ Employee and Employee agrees to serve the Company on the terms and conditions set forth herein. Subject to earlier termination pursuant to Section 8 hereof, the term of employment shall commence on the Commencement Date and shall continue until the second third (3rd) anniversary of the Commencement Date (the “Initial Term”), and shall automatically extend for additional one (1) year terms thereafter (each, a “Renewal Term” and, together with the Initial Term, the “Term of Employment”), unless either the Employee or the Company provides written notice (a “Notice of Non-Extension”) to the other party of its intention not to extend the agreement at least twelve (12) months prior to the expiration of the Initial Term or the Renewal Term, as applicable.