Common use of Term; Effectiveness Clause in Contracts

Term; Effectiveness. The period of your employment under this Agreement (the “Term”) will commence as of May 1, 2021 (the “Effective Date”), and will continue until the first anniversary of the Effective Date (the “Initial Term”). The Initial Term will be automatically extended for successive one-year periods (each such one-year period, a “Renewal Term”), unless either party provides written notice that the Term will not be so extended to the other party at least sixty (60) days prior to the last day of the then current term (e.g., Initial Term or Renewal Term, as applicable).

Appears in 4 contracts

Samples: Letter Agreement (Ikonics Corp), Letter Agreement (Ikonics Corp), Letter Agreement (Ikonics Corp)

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Term; Effectiveness. The period of your employment under this Agreement (the “Term”) will commence as of May 116, 2021 2022 (the “Effective Date”), and will continue until the first third anniversary of the Effective Date (the “Initial Term”). The Initial Term will be automatically extended for successive one-year periods (each such one-year period, a “Renewal Term”), unless either party provides written notice that the Term will not be so extended to the other party at least sixty (60) days prior to the last day of the then current term (e.g., Initial Term or Renewal Term, as applicable).

Appears in 1 contract

Samples: Letter Agreement (Terawulf Inc.)

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