Employment Term Clause Example from Business Contracts

Employment Term. The Company agrees to employ the Employee pursuant to the terms of this Agreement, and the Employee agrees to be so employed, for a term of five (5) years (the "Initial Term") commencing upon the Effective Date. Upon expiration of the Initial Term and on each anniversary of the Effective Date following the Initial Term, the term of this Agreement shall be automatically extended for successive one (1)-year periods (each, a "Successive Term"); provided, however, that either party hereto may elect ...not to extend this Agreement by giving written notice to the other party at least thirty (30) days prior to the expiration of the Initial Term or any such Successive Term. Notwithstanding the foregoing, the Employee's employment hereunder may be earlier terminated in accordance with Section 8 hereof. The period of time between the Effective Date and the termination of the Employee's employment hereunder shall be referred to herein as the "Employment Term." View More