Common use of Position; Term Clause in Contracts

Position; Term. The Employer hereby employs Executive and Executive hereby accepts employment with the Employer as Senior Vice President, Chief Operating Officer of Employer for a period commencing upon the First Effective Time and continuing for the three (3) year period following the First Effective Time (the “Initial Term”) and shall thereafter automatically renew for additional twelve (12) month periods (each, a “Renewal Term”), unless sooner terminated during the Initial Term or Renewal Term in accordance with this Agreement or written notice is given by one party to the other at least 90 days prior to the expiration of the Initial Term or any Renewal Term, as applicable. The Initial Term and any Renewal Term are herein collectively referred to as the “Term.”

Position; Term. The Employer hereby employs Executive and Executive hereby accepts employment with the Employer as Senior Executive Vice President, Chief Operating Executive Officer of Employer for a period commencing upon the First Effective Time and continuing for the three (3) year period following the First Effective Time (the “Initial Term”) and shall thereafter automatically renew for additional twelve (12) month periods (each, a “Renewal Term”), unless sooner terminated during the Initial Term or Renewal Term in accordance with this Agreement or written notice is given by one party to the other at least 90 days prior to the expiration of the Initial Term or any Renewal Term, as applicable. The Initial Term and any Renewal Term are herein collectively referred to as the “Term.”

Position; Term. The Employer hereby employs Executive and Executive hereby accepts employment with the Employer as Senior Vice President, Chief Operating Officer of Employer Merchant for a period commencing upon the First Effective Time and continuing for the three (3) year period following the First Effective Time (the “Initial Term”) and shall thereafter automatically renew for additional twelve (12) month periods (each, a “Renewal Term”), unless sooner terminated during the Initial Term or Renewal Term in accordance with this Agreement or written notice is given by one party to the other at least 90 days prior to the expiration of the Initial Term or any Renewal Term, as applicable. The Initial Term and any Renewal Term are herein collectively referred to as the “Term.”