Term of Employment Clause Example from Business Contracts

Term of Employment. The initial term of Employee's employment under this Agreement shall be for the period beginning on the Effective Date and ending on the second anniversary of the Effective Date (the "Initial Term"). On the second anniversary of the Effective Date and on each subsequent anniversary thereafter, the term of Employee's employment under this Agreement shall automatically renew and extend for a period of twelve (12) months (each such twelve-month period being a "Renewal Term") unless written notice o...f non-renewal is delivered by either party to the other not less than thirty (30) days prior to the expiration of the then-existing Initial Term or Renewal Term, as applicable. Notwithstanding any other provision of this Agreement, Employee's employment pursuant to this Agreement may be terminated at any time in accordance with Section 7. In addition, in event the 2 Company delivers a written notice of non-renewal to Employee during the 12-month period following the occurrence of a Change in Control (as defined below), the termination of Employee's employment upon or following the expiration of the Employment Period (as defined below) shall be treated as a termination of Employee's employment hereunder and shall entitle the Employee to payments and benefits described in Section 7(g) of this Agreement. The period from the Effective Date through the expiration of this Agreement or, if sooner, the termination of Employee's employment pursuant to this Agreement, regardless of the time or reason for such termination, shall be referred to herein as the "Employment Period." View More