Common use of Section 2 Term Clause in Contracts

Section 2 Term. The term of the Executive’s employment hereunder in the position referenced under Section 3 will begin as of July 1, 2009 (the “Effective Date”) and will conclude on June 30, 2011 (the “Original Term”) subject to earlier termination as provided in Section 7 herein. At the sole discretion of the Company, the Agreement may be extended for an additional one (1) year term (the “Renewal Term”), by Company providing the Executive with written notice of such extension at least one-hundred eighty (180) days prior to the Extension Date. The Original Term and any Renewal Term, in their full duration, are herein referred to as the “Employment Terms.” The period of the Executive’s employment under this Agreement consisting of the Original Term and any Renewal Term, except as may be terminated early pursuant to Section 7, is herein referred to as the “Employment Period.”