Licensed school employees; notice of reemployment;

termination. On or before fifteen working days prior to the last day of the school year, the superintendent shall serve written notice of reemployment or termination on each licensed school employee employed by the public school. A notice of reemployment shall be an offer of employment for the ensuing school year. A notice of termination shall be a notice of intention not to reemploy for the ensuing school year. Failure of the superintendent to serve a written notice of reemployment or termination on a licensed school employee shall be construed to mean that notice of reemployment has been served upon the licensed school employee for the ensuing school year according to the terms of the existing employment contract but subject to any additional compensation allowed other licensed school employees of like qualifications and experience. Nothing in this section shall be construed to mean that failure of a superintendent to serve a written notice of reemployment or termination shall automatically extend a licensed school employee's employment contract for a period in excess of one school year.