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7. TERM/RENEWAL. The term of this Memorandum shall be one (1) year from the <br />Effective Date. This Memorandum may be renewed for two (2) additional one (1) year terms upon <br />mutual written agreement of the parties. In the event of nonrenewal or expiration of this contract, <br />Employee will resume a standard schedule under the Employment Agreement and subsequent <br />amendments. <br /> <br />8. REVIEW. Within six (6) months of the Effective Date, the City will review and evaluate <br />the efficacy of this agreement. <br /> <br />9. TERMINATION BENEFITS. A reduction in pay and benefits pursuant to this agreement <br />shall not constitute “termination” or a reduction in salary or other financial benefits under <br />Paragraph 14 of Employee’s Employment Agreement and shall not trigger payment of termination <br />benefits. Similarly, Employer’s termination of or failure to renew this agreement shall not <br />constitute “termination” and shall not entitle Employee to termination benefits. <br />IN WITNESS WHEREOF, the parties have approved and executed this Memorandum on the <br />dates shown by their signatures. <br /> <br />CITY OF ORONO <br /> <br />Date: BY: <br /> Its ________________ <br /> <br />Date: BY: <br /> Its ________________ <br /> <br /> <br /> <br /> EMPLOYEE: <br /> <br />Date: <br /> Jessica Loftus <br /> 2 <br />Page 20 of 30