Common use of Term; Termination or Amendment Clause in Contracts

Term; Termination or Amendment. The term of this Agreement shall commence as of the Effective Date, and shall continue until (i) the termination of Individual’s employment or (ii) this Agreement is terminated by the Company as provided in this Section 5.1. The Agreement shall automatically renew on each anniversary of the Effective Date (a “Renewal Date”). The Committee or the Board, as applicable, acting on behalf of the Company, shall have the right to terminate this Agreement without Individual’s consent effective as of any Renewal Date that does not occur during the Protection Period by giving notice to Individual at least ninety (90) days in advance of such Renewal Date. Except as otherwise provided in the preceding sentence, no such termination or any amendment of this Agreement (by the Committee or the Board, as applicable, acting on behalf of the Company) shall become effective during the term of this Agreement without Individual’s written consent, and any such purported termination or amendment of this Agreement during a Protection Period, whether pursuant to the preceding sentence or otherwise, without Individual’s written consent shall become effective no earlier than the expiration of the Protection Period.