The Company hereby employs Executive, and Executive hereby accepts such employment, for a term (as the same may be extended, the “ Term ”) commencing as of the Effective Date and continuing until December 31, 2020 (the “ Initial Period ”) unless terminated earlier in accordance with the provisions of Section 4. Unless either party notifies the other party of non-renewal in writing, in accordance with Section 10, not less than 90 days prior to the expiration of the Initial Period or any subsequent renewal period, the Term shall automatically be extended for successive one-year periods in accordance with the terms of this Agreement (subject to earlier termination as aforesaid).