Common use of Effectiveness; Term Clause in Contracts

Effectiveness; Term. (a) This Agreement shall become effective upon the Closing (the date of the Closing, the “Effective Date”). If the Merger Agreement is terminated in accordance with its terms prior to the consummation of the Merger, if the Closing does not occur for any other reason prior to September 30, 2010 or if the Executive Chairman is not continuously employed by the Prior Employer under the terms of the Prior Agreement from the Execution Date to the Closing, this Agreement shall be null and void ab initio and of no further force or effect and the Prior Agreement shall remain in effect. (b) Subject to Section 1(a), the term of this Agreement, and the term of the Executive Chairman’s service hereunder, shall commence on the Effective Date and shall continue until the third anniversary of the Effective Date, unless terminated earlier in accordance with Section 5 of this Agreement (such period of service, the “Term”).