Term of Agreement Clause Example from Business Contracts

Term of Agreement. (a) The term of this Agreement shall terminate upon the earlier of the third (3rd) anniversary of the Effective Date (the "Expiration Date") and the date the Executive's employment with the Company terminates for any reason other than a Qualifying Termination or CIC Qualifying Termination; provided that the term of this Agreement shall renew automatically and continue in effect for successive one (1) year periods measured from the initial Expiration Date, unless the Company provides Executive no...tice of non-renewal at least three (3) months prior to the date on which this Agreement would otherwise renew. (b) Notwithstanding the foregoing, (i) if a Change in Control is consummated prior to the Expiration Date, in no event shall this Agreement terminate prior to the twelve (12)-month anniversary of such Change in Control, (iii) if the Executive's employment with the Company is terminated due a Qualifying Termination following a Potential Change in Control, in no event shall this Agreement terminate prior to the three (3) month anniversary of the date of Separation, and (iv) if the Executive's employment with the Company is terminated due to a Qualifying Termination or a CIC Qualifying Termination, in no event shall this Agreement terminate prior to the date the Company has satisfied all of its obligations under this Agreement following the applicable date of Separation. (c) For the avoidance of doubt, the Company's non-renewal of this Agreement shall not constitute a Qualifying Termination or CIC Qualifying Termination. The Executive hereby acknowledges and agrees that, except as otherwise set forth in this Section 1, there is no assurance that that this Agreement will be renewed or extended. View More