This Agreement shall commence on the Effective Date and shall continue for a period of two (2) years (the “ Initial Term ”). This Agreement shall automatically be renewed for successive one-year periods on the second anniversary of the Effective Date and on each successive anniversary of the Effective Date thereafter (each successive one-year renewal term together with the Initial Term, the “ Term ”), unless one party hereto provides written notice to the other, at least ninety (90) days prior to the end of the applicable Term, that it elects not to extend this Agreement, which notice shall be irrevocable (any such notice, a “ Non-Renewal Notice ”). Notwithstanding anything to the contrary in this Agreement, Executive’s employment with the Company is “at will” and may be terminated at any time for any reason or no reason, with or without cause, by the Company or Executive. Executive’s rights to payments upon certain termination of employment is governed by Section 1 of the Standard Terms and Conditions attached hereto.