Common use of Employment, Acceptance and Term Clause in Contracts

Employment, Acceptance and Term. Subject to Section 5 hereof, the Company and Holdings hereby agree to employ the Employee, and the Employee agrees to serve the Company and Holdings, during the term of this Agreement (the "Term") which shall commence January 1, 2000 (the "Effective Date") and end on December 31, 2001 (the "Initial Term"), and shall be renewed automatically for successive one calendar year periods thereafter through December 31 of the calendar year in which the Employee reaches age sixty-five (65), unless the Company gives the Employee or the Employee gives the Company written notice of its or his intent not to renew this Agreement, which notice must be given not later than December 31, 2000 if this Agreement is to expire at the end of the Initial Term or December 31 of the year last preceding the final calendar year of the Term if this Agreement is to expire after the Initial Term; provided, however, that no such notice given by either the Company or the Employee after a "Change of Control" as defined in Section 1.2 hereof shall have the effect of terminating this Agreement prior to the December 31 coinciding with or next following the second anniversary of the date on which such Change of Control occurs. The Employee acknowledges that neither the Company nor Holdings shall have any obligation to extend the Term beyond the Initial Term or to renew the Agreement after any extension, or to enter into a new employment agreement upon the expiration of the Term. Unless otherwise agreed between the parties in writing, any continuation of the Employee's employment beyond the expiration of the Term shall constitute an employment at will and shall not extend the terms of this Agreement.

Employment, Acceptance and Term. Subject to Section 5 hereof, the Company and Holdings hereby agree to employ the Employee, and the Employee agrees to serve the Company and Holdings, during the term of this Agreement (the "Term") which shall commence January 1, 2000 2005 (the "Effective Date") and end on December 31, 2001 2006 (the "Initial Term"), and shall be renewed automatically for successive one calendar year periods thereafter through December 31 of the calendar year in which the Employee reaches age sixty-five (65), unless the Company gives the Employee or the Employee gives the Company written notice of its or his intent not to renew this Agreement, which notice must be given not later than December 31, 2000 2005 if this Agreement is to expire at the end of the Initial Term or December 31 of the year last preceding the final calendar year of the Term if this Agreement is to expire after the Initial Term; provided, however, that no such notice given by either the Company or the Employee after a "Change of Control" as defined in Section 1.2 hereof shall have the effect of terminating this Agreement prior to the December 31 coinciding with or next following the second anniversary of the date on which such Change of Control occurs. The Employee acknowledges that neither the Company nor Holdings shall have any obligation to extend the Term beyond the Initial Term or to renew the Agreement after any extension, or to enter into a new employment agreement upon the expiration of the Term. Unless otherwise agreed between the parties in writing, any continuation of the Employee's employment beyond the expiration of the Term shall constitute an employment at will and shall not extend the terms of this Agreement.

Employment, Acceptance and Term. Subject to Section 5 hereof, the Company and Holdings hereby agree to employ the Employee, and the Employee agrees to serve the Company and Holdings, during the term of this Agreement (the "Term") which shall commence January 1, 2000 2002 (the "Effective Date") and end on December 31, 2001 2002 (the "Initial Term"), and shall be renewed automatically for successive one calendar year periods thereafter through December 31 of the calendar year in which the Employee reaches age sixty-five (65), unless the Company gives the Employee or the Employee gives the Company written notice of its or his intent not to renew this Agreement, which notice must be given not later than December 31, 2000 the date hereof if this Agreement is to expire at the end of the Initial Term or December 31 of the year last preceding the final calendar year of the Term if this Agreement is to expire after the Initial Term; provided, however, that no such notice given by either the Company or the Employee after a "Change of Control" as defined in Section 1.2 hereof shall have the effect of terminating this Agreement prior to the December 31 coinciding with or next following the second first anniversary of the date on which such Change of Control occurs. The Employee acknowledges that neither the Company nor Holdings shall have any obligation to extend the Term beyond the Initial Term (provided, however, that the failure of the Company and the Employee to give written notice on or before the date hereof of its or his intent not to renew this Agreement at the end of its Initial Term means that the Term will be extended until at least December 31, 2003) or to renew the Agreement after any extension, or to enter into a new employment agreement upon the expiration of the Term. Unless otherwise agreed between the parties in writing, any continuation of the Employee's employment beyond the expiration of the Term shall constitute an employment at will and shall not extend the terms of this Agreement.

Employment, Acceptance and Term. Subject to Section 5 hereof, the Company and Holdings hereby agree to employ the Employee, and the Employee agrees to serve the Company and Holdings, during the term of this Agreement (the "Term") which shall commence January 1, 2000 2006 (the "Effective Date") and end on December 31, 2001 2007 (the "Initial Term"), and shall be renewed automatically for successive one calendar year periods thereafter through December 31 of the calendar year in which the Employee reaches age sixty-five (65), unless the Company gives the Employee or the Employee gives the Company written notice of its or his intent not to renew this Agreement, which notice must be given not later than December 31, 2000 2006 if this Agreement is to expire at the end of the Initial Term or December 31 of the year last preceding the final calendar year of the Term if this Agreement is to expire after the Initial Term; provided, however, that no such notice given by either the Company or the Employee after a "Change of Control" as defined in Section 1.2 hereof shall have the effect of terminating this Agreement prior to the December 31 coinciding with or next following the second anniversary of the date on which such Change of Control occurs. The Employee acknowledges that neither the Company nor Holdings shall have any obligation to extend the Term beyond the Initial Term or to renew the Agreement after any extension, or to enter into a new employment agreement upon the expiration of the Term. Unless otherwise agreed between the parties in writing, any continuation of the Employee's employment beyond the expiration of the Term shall constitute an employment at will and shall not extend the terms of this Agreement.