Common use of Change in Term Clause in Contracts

Change in Term. Effective on the Merger Date, the term of the Employment Agreement set forth in Section III of the Employment Agreement is amended to be a two-year, non-renewing term commencing on the Merger Date. Any renewal of the term of this Agreement must be in writing and executed by all parties to this Employment Agreement then in existence. At the end of that two-year Term, ▇▇▇▇▇▇ will become an employee at will and the term of the Employment Agreement shall end. Without limiting the foregoing, ▇▇▇▇▇▇ will not be entitled to a payment if the Employment Agreement, as amended by this Amendment, is not renewed.

Change in Term. Effective on the Merger Date, the term of the Employment Agreement set forth in Section III A(1) of the Employment Agreement is amended to be a two-year, non-renewing term commencing on the Merger Date. Any renewal of the term of this Agreement must be in writing and executed by all parties to this Employment Agreement then in existence. At the end of that two-year Term, ▇▇▇▇▇▇ will become an employee at will and the term of the Employment Agreement shall end. Without limiting the foregoing, ▇▇▇▇▇▇ will not be entitled to a payment if the Employment Agreement, as amended by this Amendment, is not renewed.