Common use of Term and Annual Renewal Clause in Contracts

Term and Annual Renewal. The initial term of this Agreement will begin as of the Effective Date and continue for a period of two years (the “Term”). Commencing on the first anniversary date of this Agreement (the “Renewal Date”) and continuing on each anniversary of the Renewal Date thereafter, the term of this Agreement shall renew for an additional year such that the remaining term of this Agreement is two (2) years; provided, however, that in order for this Agreement to renew, the disinterested members of the Board of Directors must take the following actions within the following time frames prior to each Renewal Date: (i) at least thirty (30) days prior to the Renewal Date, conduct or review a comprehensive performance evaluation of the Executive for purposes of determining whether to extend the Term; and (ii) affirmatively approve the renewal or non-renewal of the Term, which decision will be included in the minutes of the meeting of the Board of Directors. If the decision of the disinterested members of the Board of Directors is not to renew the Term, then the Board of Directors will provide the Executive with a written notice of non-renewal (“Non-Renewal Notice”) prior to the applicable Renewal Date and the Agreement will expire at the end of the current Term.

Term and Annual Renewal. The initial term of this Agreement will shall begin as of the Effective Date and shall continue for a period of two years thirty-six (the “Term”)36) months. Commencing on the first anniversary date of this Agreement the Effective Date (the “Renewal "Anniversary Date”") and continuing on each anniversary of the Renewal Anniversary Date thereafter, the term of this Agreement shall renew for an additional year such so that the remaining term of this Agreement is two thirty-six (236) yearsmonths; provided, however, that in order for this Agreement to renew, the disinterested members of the Board Boards of Directors must take the following actions within the following time frames set forth below prior to each Renewal Anniversary Date: (i1) at least thirty (30) 30 days prior to the Renewal each Anniversary Date, conduct or review a comprehensive performance evaluation of the Executive for purposes of determining whether to extend the Termthis Agreement; and (ii2) affirmatively approve the renewal or non-renewal of the Termthis Agreement, which decision will shall be included in the minutes of the meeting of the Board of Directors. If the decision of the disinterested members of the Board of Directors is not to renew the Termthis Agreement, then the Board of Directors will shall provide the Executive with a written notice of non-renewal (“the "Non-Renewal Notice”") prior to the applicable Renewal Date any Anniversary Date, and the term of this Agreement will expire shall terminate at the end of the current Termthen remaining term. Reference herein to the term of this Agreement shall refer to both the initial term and any extended terms.

Term and Annual Renewal. The initial term of this Agreement will begin as of the Effective Date and continue for a period of two years (the “Term”). Commencing on the first anniversary date of this Agreement (the “Renewal Date”) and continuing on each anniversary of ​ ​ the Renewal Date thereafter, the term of this Agreement shall renew for an additional year such that the remaining term of this Agreement is two (2) years; provided, however, that in order for this Agreement to renew, the disinterested members of the Board of Directors must take the following actions within the following time frames prior to each Renewal Date: (i) at least thirty (30) days prior to the Renewal Date, conduct or review a comprehensive performance evaluation of the Executive for purposes of determining whether to extend the Term; and (ii) affirmatively approve the renewal or non-renewal of the Term, which decision will be included in the minutes of the meeting of the Board of Directors. If the decision of the disinterested members of the Board of Directors is not to renew the Term, then the Board of Directors will provide the Executive with a written notice of non-renewal (“Non-Renewal Notice”) prior to the applicable Renewal Date and the Agreement will expire at the end of the current Term.