Common use of Early Separation Date Clause in Contracts

Early Separation Date. If Executive chooses a voluntary Separation Date earlier than the Separation Date set forth above (such date referenced as the “Early Separation Date” or “ESD”), Executive will be released as of the ESD. Executive will still be eligible for the Consideration set forth in Paragraph 3 of this Agreement and General Release (“Agreement”). However, Executive agrees to waive any additional salary payment for the balance of the time period commencing on the date of the ESD through the Separation Date. In addition, Long Term Equity Agreements (LTI’s), vacation payout and healthcare coverage set forth in Paragraphs 3 (c), (e), and (f) below, respectively, will be prorated to the ESD. For purposes of this Agreement, the last day of employment will be either the Separation Date or ESD, whichever is applicable.