The Executive shall continue to serve as the Company’s Chief Financial Officer from the Signing Date until the Effective Date (as defined below) (the “Transition Period”). During the Transition Period, the Executive’s prorated annual base salary and annual bonus target shall be as set forth on Schedule 1.1. The Executive's initial employment as President and Chief Executive Officer of the Company hereunder shall be effective as of January 1, 2017 (the " Effective Date ") and shall continue until the third anniversary thereof and thereafter as mutually agreed by the parties, unless terminated earlier pursuant to Section 5 of this Agreement. The period during which the Executive is employed by the Company hereunder is hereinafter referred to as the " Employment Term ".