The Company hereby continues to employ Executive for a term (as the same may be extended, the “ Term ”) commencing as of August 15, 2017 and continuing until August 15, 2020, unless terminated earlier in accordance with the provisions of Section 7. On August 15, 2020, the Term shall automatically be extended for successive one-year periods in accordance with the terms of this Agreement (subject to termination as aforesaid) unless either party notifies the other party of non-renewal in writing, in accordance with Section 12, 90 days prior to the expiration of the initial period or any subsequent renewal period.