Common use of Expiration of the Agreement Clause in Contracts

Expiration of the Agreement. If the Company elects not to extend this Agreement by giving you a Nonrenewal Notice in accordance with Section 2 and your employment is subsequently terminated after the expiration of the then current term, you will not be subject to the noncompetition provisions of Section 7(a) unless the Company makes a timely election to continue to make Base Salary payments to you at the level in effect at the date of termination of your employment for the remaining balance of the Noncompete Period. The Company must notify you in writing of its election to enforce the noncompetition provisions of Section 7(a) within seven (7) business days following the termination of your employment. The Company may not revoke its election to enforce the noncompetition covenant.

Expiration of the Agreement. If the Company elects not to extend this Agreement for an additional year by giving you a Nonrenewal Notice in accordance with Section 2 and your employment is subsequently terminated after the expiration of the then current term, you will not be subject to the noncompetition provisions of Section 7(a6(a) unless the Company makes a timely election to continue to make Base Salary payments to you at the level in effect at the date of termination of your employment for the remaining balance of the one-year Noncompete Period. The Company must notify you in writing of its election to enforce the noncompetition provisions of Section 7(a6(a) within seven (7) business days following the termination of your employment. The Company may not revoke its election to enforce the noncompetition covenant.