Common use of Term; Termination; Rights on Termination Clause in Contracts

Term; Termination; Rights on Termination. The term of this Agreement shall begin on the date of the consummation of the IPO and continue for five (5) years (the "Term"), and, unless terminated sooner as herein provided, shall continue thereafter on a year-to-year basis on the same terms and conditions contained herein in effect as of the time of renewal unless the Company or Executive, as the case may be, gives written notice of nonrenewal at least sixty (60) days prior to the end of the current term. This Agreement and Executive's employment may be terminated in any one of the followings ways:

Appears in 3 contracts

Samples: Employment Agreement (Pentacon Inc), Employment Agreement (Pentacon Inc), Employment Agreement (Pentacon Inc)

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Term; Termination; Rights on Termination. (a) The term of this Agreement shall begin on the date of the consummation of the IPO and continue for five three (53) years (the "Term"), and, unless terminated sooner as herein provided, shall continue thereafter on a year-to-year basis ("Renewal Period") on the same terms and conditions contained herein in effect as of the time of renewal unless the Company or Executive, as the case may be, gives written notice of nonrenewal at least sixty (60) days prior to the end of the current termrenewal. This Agreement and Executive's employment may be terminated in any one of the followings ways:

Appears in 2 contracts

Samples: Employment Agreement (Mgi2 Inc), Employment Agreement (Mgi2 Inc)

Term; Termination; Rights on Termination. (a) The term of this Agreement shall begin on the date of the consummation of the IPO and continue for five three (53) years (the "Term"), and, unless terminated sooner as herein provided, shall continue thereafter on a year-to-year basis on the same terms and conditions contained herein in effect as of the time of renewal unless the Company or Executive, as the case may be, gives written notice of nonrenewal at least sixty (60) days prior to the end of the current termrenewal. This Agreement and Executive's employment may be terminated in any one of the followings ways:

Appears in 2 contracts

Samples: Employment Agreement (Pentacon Inc), Employment Agreement (Pentacon Inc)

Term; Termination; Rights on Termination. (a) The term of this Agreement shall begin on the date of the consummation of the IPO and continue for five (5) years (the "Term"), and, unless terminated sooner as herein provided, shall continue thereafter on a year-to-year basis on the same terms and conditions contained herein in effect as of the time of renewal unless the Company or Executive, as the case may be, gives written notice of nonrenewal at least sixty (60) days prior to the end of the current termrenewal. This Agreement and Executive's employment may be terminated in any one of the followings ways:

Appears in 1 contract

Samples: Employment Agreement (Pentacon Inc)

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Term; Termination; Rights on Termination. (a) The term of this Agreement shall begin on the date of the consummation of the IPO and continue for five one (51) years year (the "Term"), and, unless terminated sooner as herein provided, shall continue thereafter on a year-to-year basis on the same terms and conditions contained herein in effect as of the time of renewal unless the Company or Executive, as the case may be, gives written notice of nonrenewal at least sixty (60) days prior to the end of the current termrenewal. This Agreement and Executive's employment may be terminated in any one of the followings following ways:

Appears in 1 contract

Samples: Employment Agreement (Pentacon Inc)

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