This Agreement shall become effective on the Effective Date and shall continue in effect through the second anniversary of the Effective Date, unless earlier terminated as hereinafter provided. Commencing on the second anniversary of the Effective Date and each anniversary of the Effective Date thereafter, the term of this Agreement shall automatically be extended for one (1) additional year unless, unless, no later than sixty (60) days prior to the applicable anniversary date, the Employer or Executive gives written notice to the other Party that such Party does not wish to extend the term of this Agreement, in which case this Agreement shall terminate on the applicable anniversary date.