Common use of Start Date and Term Clause in Contracts

Start Date and Term. (a) Your start date (“Start Date”) will be June 1, 2013. (b) The term of your employment shall continue for an initial period of five (5) years from your Start Date (the “Initial Term”). The Initial Term shall be extended thereafter for consecutive one (1) year terms (each a “Renewal Term”) at the end of the Initial Term and on each anniversary thereof unless the Company or you provide written notice to the other no less than sixty (60) days prior to the expiration of the Initial Term or Renewal Term, as applicable, that it or he does not desire such an extension. Notwithstanding the foregoing, your employment hereunder may be earlier terminated in accordance with Section 5 hereof. The date on which your employment hereunder shall terminate, for any reason, including, but not limited to, the non-extension of the Initial Term or a Renewal Term, as applicable, or a termination pursuant to Section 5, shall be referred to herein as the “Termination Date.” The period of time between the Start Date and the Termination Date shall be referred to herein as the “Term.”