Common use of Stated Term Clause in Contracts

Stated Term. This Employment Agreement shall be deemed to commence on August 1, 2000, and unless it is terminated earlier in the manner provided below in this Agreement, shall continue for a term of three years and upon each anniversary date of this Agreement shall be deemed to automatically renew for a new three year term from such anniversary date. Not later than each anniversary date of this Agreement, either party shall have the right to provide written notice of their intention to have the Agreement expire at the end of the then-pending three year term period without automatic renewal.

Stated Term. This Employment Agreement shall be deemed to commence have commenced on August 1, 2000, and unless it is terminated earlier in the manner provided below in this Agreement, shall continue for a term of three years and upon each anniversary date of this Agreement shall be deemed to automatically renew for a new three year term from such anniversary date. Not later than each anniversary date of this Agreement, either party shall have the right to provide written notice of their intention to have the Agreement expire at the end of the then-pending three year term period without automatic renewal.