The Parties agree that Executive’s employment with the Company is subject to the terms and conditions set forth herein. The initial term of this Agreement shall begin on January 18, 2016 (the “ Effective Date ”) and end one (1) year thereafter (the “ Initial Term ”), subject to renewal for additional one-year periods (each a “ Renewal Term ”), provided that any such renewal must be approved by at least two (2) members of the Board of Directors of the Company (the “ Board ”) and agreed to in writing by the Parties no later than the last day of the Initial Term or expiring Renewal Term, as applicable.