The initial term of employment under this Agreement shall be for the period commencing on the effective date of the Prior Agreement (the “ Commencement Date ”) and ending on the fifth anniversary of the Commencement Date; provided , however , that thereafter this Agreement shall be automatically renewed from year to year, unless (a) either the Company or the Executive shall have given written notice to the other at least thirty (30) days prior thereto that the term of this Agreement shall not be so renewed or (b) the Agreement is terminated pursuant to the provisions of Section 8 of this Agreement.