The Company hereby agrees to continue to employ Executive, and Executive hereby accepts such continued employment. Executive shall serve as the Company’s President and Chief Operating Officer (“ COO ”) upon the terms and conditions hereinafter set forth. The initial term of employment under this Agreement (the “ Initial Term ”) shall be for the period beginning on the Effective Date and ending on the first (1st) anniversary thereof, unless earlier terminated as provided in Section 4. This Agreement shall automatically be extended for successive one­year periods (each, an “Extension Term” and, collectively with the Initial Term, the “ Term ”) unless either party gives notice of non­extension to the other no later than 90 days prior to the expiration of the then applicable Term.