Common use of Extended Contract Term Clause in Contracts

Extended Contract Term. On January 1, 2009, the Contract Term shall be automatically extended by one year, and, on the first day of January of each calendar year thereafter (an “Extension Date”), the Contract Term shall be automatically extended by one year unless (i) Executive’s employment has been earlier terminated as provided in Section 5 or (ii) the Company gives written notice to Executive one hundred eighty (180) days prior to the Extension Date that the Contract Term shall not be automatically extended. For purposes of illustration, if Executive’s employment has not been terminated as provided in Section 5 and if the Company has not given written notice to Executive at least 180 days prior to January 1, 2010 that the Contract Term will not be extended, on January 1, 2010, the Contract Term will be extended to and including December 31, 2012. If the Contract Term is extended as provided herein, Executive’s employment may be terminated (other than upon expiration) only as provided in Section 5. References herein to the “Contract Term” shall refer to the Initial Contract Term as extended pursuant to this Section 2.

Extended Contract Term. On January 1, 2009, the Contract Term shall be automatically extended by one year, and, 2009 and on the first day of January of each calendar year thereafter (an “Extension Date”), the Contract Term shall be automatically extended by one year unless (i) Executive’s employment has been earlier terminated as provided in Section 5 or (ii) the Company gives written notice to Executive one hundred eighty (180) days prior to the Extension Date that the Contract Term shall not be automatically extended. For purposes of illustration, if Executive’s employment has not been terminated as provided in Section 5 and if the Company has not given written notice to Executive at least 180 days prior to January 1, 2010 2009 that the Contract Term will not be extended, on January 1, 20102009, the Contract Term will be extended to and including December 31, 20122011. If the Contract Term is extended as provided herein, Executive’s employment may be terminated (other than upon expiration) only as provided in Section 5. References herein to the “"Contract Term” " shall refer to the Initial Contract Term as extended pursuant to this Section 2.