Term. This Agreement will commence on the Effective Date and terminate on the third anniversary of the Effective Date, unless earlier terminated in accordance with this Agreement (the “Employment Term”). However, the terms of Executive’s compensation shall be reviewed annually by the Compensation Committee in accordance with the Charter of that Committee. The terms of Executive’s compensation set forth herein shall be applicable only during the initial year of the Employment Term and any carryover period until replaced by agreement of Executive and the Company’s Compensation Committee.

Term of Employment. The “Initial Term” of Executive’s employment hereunder shall commence on the Effective Date of this Agreement, and shall continue thereafter until the third (3rd) anniversary of the Effective Date, unless earlier terminated in accordance with the terms of this Agreement. After the expiration of the Initial Term, if not earlier terminated, this Agreement shall automatically renew on each anniversary of the Effective Date for successive one (1) year periods. Each such one (1) year renewal term shall be referred to as a “Renewal Term.” The period that Executive is employed hereunder is referred to as the “Term” of this Agreement.