The Executive’s employment shall be for a term (the “ Employment Term ”) commencing on the Effective Date  and, subject to earlier termination under Section 8, expiring on the third anniversary thereof; provided, however, that commencing on the third anniversary of the Effective Date, and each anniversary thereafter, the Employment Term will automatically be extended for an additional year unless, not later than 4 months prior to the anniversary, the University or the Executive shall have given written notice to the other that it or the Executive, as the case may be, does not wish to have the Employment Term extended.