Common use of Basic Term Clause in Contracts

Basic Term. The term of employment of the Employee by the Employer shall be for the period beginning on the date of this Agreement, and ending on December 31, 2007, unless terminated earlier pursuant to this Section 2. At any time before December 31, 2007, the Employer and the Employee may by mutual written agreement extend the Employee’s employment under the terms of this Agreement for such additional periods as they may agree.

Basic Term. The term of employment of the Employee by the Employer under this Agreement shall be for the period beginning on the date of this Agreement, and ending on December 31, 2007, unless terminated earlier pursuant to this Section 2. At any time before December 31, 2007, the Employer and the Employee may by mutual written agreement extend the Employee’s employment under the terms of this Agreement for such additional periods as they may agree.