Common use of Purpose and Term Clause in Contracts

Purpose and Term. The purpose of this Agreement is to provide specified compensation and benefits to the Executive in the event of (i) a Termination Upon Change of Control or (ii) an Involuntary Termination. Subject to the terms of any applicable written employment agreement between Company and the Executive (which Executive acknowledges no other such agreement exists as of the date hereof), either the Executive or Company may terminate the Executive’s employment at any time for any reason, with or without notice. The term of this Agreement shall be the period from the date set forth above until February 28, 2013 and shall automatically be renewed for one-year periods thereafter unless written notice of non-renewal is provided by either party hereto no less than thirty (30) days prior to the date this Agreement would otherwise renew and this Agreement shall be effective immediately upon exchange of copies (including by facsimile) signed by both parties.

Purpose and Term. The purpose of this Agreement is to provide specified compensation and benefits to the Executive in the event of (i) a Termination Upon Change of Control or (ii) an Involuntary Termination. Subject to the terms of any applicable written employment agreement between Company and the Executive (which Executive acknowledges no other such agreement exists as of the date hereof), either the Executive or Company may terminate the Executive’s employment at any time for any reason, with or without notice. The term of this Agreement shall be the period from the date set forth above until February 28April 25, 2013 2014 and shall automatically be renewed for one-year periods thereafter unless written notice of non-renewal is provided by either party hereto no less than thirty (30) days prior to the date this Agreement would otherwise renew and this Agreement shall be effective immediately upon exchange of copies (including by facsimile) signed by both parties.