Common use of Employment and Term of Employment Clause in Contracts

Employment and Term of Employment. (a) Subject to the terms of this Agreement, the employment term hereunder will commence as of the Effective Date and continue through December 31, 2024. So long as the Executive is then employed by the Company, the Company and the Executive agree to begin discussions concerning the renewal of this Agreement in the second calendar quarter of 2024, with the objective of reaching a final agreement regarding such renewal by the end of December 2024. Absent the receipt by either party from the other party of a notice not to renew this Agreement as provided in Section 1(b) below (and so long as the Executive has remained employed by the Company hereunder), the term of this Agreement shall be automatically extended from December 31, 2024 through April 15, 2025 to allow for the parties to reach a final agreement regarding the renewal described in the preceding sentence. (b) Either the Company or the Executive may provide the other with prior written notice of its or his desire not to renew this Agreement, delivered in accordance with Section 20 (“Notice”) at least ninety (90) days in advance of January 1, 2025, in which case this Agreement shall terminate at 11:59 p.m. on December 31, 2024 and the Executive shall receive the compensation set forth in Section 7(e) below. (c) Notwithstanding anything to the contrary in this Section 1, either the Company or the Executive may terminate the Executive’s employment with the Company at any time, subject to the terms and conditions of Section 7 hereof. (d) The term that the Executive is employed hereunder (as it may be extended and/or renewed) is referred to herein as the “Term.”

Employment and Term of Employment. (a) Subject to the terms of this Agreement, the employment term hereunder will commence as of on January 1, 2015 (the “Effective Date Date”) and continue through December 31, 2024. So long as 2017; provided that, commencing on January 1, 2018 (the Executive is then employed by the Company, the Company and the Executive agree to begin discussions concerning the renewal of this Agreement in the second calendar quarter of 2024, with the objective of reaching a final agreement regarding such renewal by the end of December 2024. Absent the receipt by either party from the other party of a notice not to renew this Agreement as provided in Section 1(b) below (and so long as the Executive has remained employed by the Company hereunder“Renewal Date”), the term of this Agreement the Executive’s employment by the Company shall be automatically extended renewed so as to terminate on the date that is thirty-six (36) months from December 31such Renewal Date, 2024 through April 15, 2025 to allow for the parties to reach a final agreement regarding the renewal described in the preceding sentence. (b) Either unless the Company or the Executive may provide provides the other with prior written notice of its or his desire not to renew this Agreement, delivered in accordance with Section 20 (“Notice”) at least ninety (90) days in advance of January 1the Renewal Date; and further provided, 2025, in which case this Agreement that any such renewal term shall terminate at 11:59 p.m. on December 31, 2024 include a replacement Exhibit B (Long-Term Performance-Based Cash Incentive Plan and Payout Grid) proposed by the Compensation Committee of the Board of Directors of the Company (the “Compensation Committee”) and acceptable to the Executive. The Company and the Executive shall receive agree to begin discussions concerning the compensation set forth renewal of this Agreement in Section 7(e) belowJanuary 2017 with the objective of reaching a final agreement by the end of June 2017. (c) Notwithstanding anything to the contrary in this Section 1foregoing, either the Company or the Executive may terminate the Executive’s employment with the Company at any time, subject to the terms and conditions of Section 7 hereof. (d) The term that the Executive is employed hereunder (employment period as it may be extended and/or renewed) described herein is referred to herein as the “Term.”