The Company will continue to employ the Executive for a period of one (1) year after the date of this Agreement (the “Initial Term”). This Agreement will automatically renew each year after the Initial Term for one (1) additional year (each a “Renewal Period”); provided, however, that either party may elect not to renew this Agreement for any Renewal Period by providing ninety (90) days’ written notice of such election prior to the end of the Initial Term or any Renewal Period. If this Agreement is not renewed by the Executive, no Severance Package shall be paid. If this Agreement is not renewed by the Company, the Executive shall be entitled to the Severance Package. Notwithstanding this Section 2.1, the Executive’s employment under this Agreement may be earlier terminated pursuant to Article 4.

EMPLOYMENT. The Company hereby re-appoints the Executive to the Position, and the Executive hereby accepts such re-appointment and employment with the Company subject to the terms and conditions set forth in this Agreement. Subject to earlier termination in accordance with Section 4 below, this Agreement shall continue in effect for a period of thirty-six (36) months commencing from the Effective Date (the “Initial Term”). Upon the expiration of the Initial Term or any Renewal Period (as hereafter described), the term of Executive’s employment under this Agreement shall automatically be extended for an additional thirty-six (36) month period (a “Renewal Period”), subject to earlier termination in accordance with Section 4 below, unless either the Company or the Executive notifies the other party in writing at least thirty (30) days prior to the expiration of the Initial Term or the then current Renewal Period that the Employment Period (as defined in Section 2) shall not be extended upon such expiration.