Subject to the provisions for earlier termination hereinafter provided, your employment hereunder shall be for a term (the “ Term ”) commencing on the Effective Date and ending on the third (3 rd ) anniversary of the Effective Date (the “ Initial Termination Date ”). If not previously terminated, the Term shall automatically be extended for one additional year on the Initial Termination Date, unless either you or the Company elect not to so extend the Term by notifying the other party, in writing, of such election not less than sixty (60) days prior to the Initial Termination Date.