ROLLING TERM. Executive's employment hereunder shall continue for a period of two (2) years from the date hereof; provided, however, that such term shall be extended each year for an additional one (1) year on each anniversary date of this Contract up to a maximum of eight (8) additional years (i.e., extending the term of this Contract to ten (10) years) unless either party gives notice to the other party of that party's intention that there be no further extensions of this Contract within the ninety (90) day period immediately preceding any such anniversary date. If no such notice is given within such ninety (90) day period, then the term of this Contract shall be extended for one (1) additional year. If such notice is provided within such period, this Contract shall continue in full force and effect for the remainder of the then current term without further extension.
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Sources: Executive Employment Contract (BNP Residential Properties Inc)
ROLLING TERM. Executive's employment hereunder shall continue for a period of two four (24) years from the date hereof; provided, however, that such term shall be extended each year for an additional one (1) year on each anniversary date of this Contract up to a maximum of eight six (8) 6) additional years (i.e., extending the term of this Contract to ten (10) years) unless either party gives notice to the other party of that party's intention that there be no further extensions of this Contract within the ninety (90) day period immediately preceding any such anniversary date. If no such notice is given within such ninety (90) day period, then the term of this Contract shall be extended for one (1) additional year. If such notice is provided within such period, this Contract shall continue in full force and effect for the remainder of the then current term (three years from the subject anniversary date) without further extension.
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