This Agreement and Executive’s employment hereunder shall be for an initial term of five (5) years commencing on the date hereof (the “ Effective Date ”) and ending on the fifth anniversary of the Effective Date (the “ Expiration Date ”), unless terminated earlier by the Company or the Executive pursuant to Section 4 of this Agreement (the “ Term ”). Thereafter, this Agreement shall automatically be renewed and the Term shall be extended for additional consecutive terms of 1 year (each a “ Renewal Term ”), unless such renewal is objected to by either the Company or the Executive upon 90 days written notice prior to the commencement of the next Renewal Term. In the event of renewal, the last day of each Renewal Term shall be deemed the new Expiration Date.