Common use of Employment and Term of Employment Clause in Contracts

Employment and Term of Employment. The Employer hereby agrees to employ the Employee and the Employee hereby agrees to serve the Employer, on the terms and conditions set forth herein for the period commencing January 1, 2016 and expiring on December 31, 2020, provided that this Contract shall be automatically renewed for additional one-year terms unless either party gives written notice to the contrary at least two (2) months prior to the date of termination. This Agreement serves to terminate all prior agreements of employment between Employee, Employer and any of Employer’s subsidiaries, including specifically that Employment Agreement with WG Productions Company and includes the full release and discharge of any obligations that may have existed under that Employment Agreement as of the date hereof, including all bonuses, profit distribution, compensation of any kind and in any form.