Common use of Elective Termination Clause in Contracts

Elective Termination. Executive may voluntarily terminate his employment with the Company at any time during the Term upon ninety (90) days prior written notice. Executive’s employment with the Company and all of his rights to Salary, Annual Bonus and Benefits hereunder shall automatically terminate on the ninetieth (90th) day after Notice of Termination is given by Executive to the Company pursuant to this Section 4.2.5. Except for reimbursement of documented, unreimbursed expenses incurred prior to the Date of Termination and the payment of any earned but unpaid portion of Executive’s Salary and Benefits up to the Date of Termination, the Company shall have no further obligation or liability to Executive under this Agreement upon a termination of employment by Executive pursuant to this Section 4.2.5. Notwithstanding the provisions of this Section 4.2.5, the Company may elect in its sole discretion to permit the termination of Executive’s employment in advance of such ninetieth (90th) day after Notice of Termination is given; provided that Executive’s right to Salary, Annual Bonus and Benefits hereunder shall automatically terminate on such earlier date of termination.

Elective Termination. Executive may voluntarily terminate his employment with the Company at any time during the Term upon ninety (90) days prior written notice. Executive’s employment with the Company and all of his rights to Salary, Annual Bonus Salary and Benefits hereunder shall automatically terminate on the ninetieth (90th) day after Notice of Termination is given by Executive to the Company pursuant to this Section 4.2.5. Except for reimbursement of documented, unreimbursed expenses incurred prior to the Date of Termination and the payment of any earned but unpaid portion of Executive’s Salary and Benefits up to the Date of Termination, the Company shall have no further obligation or liability to Executive under this Agreement upon a termination of employment by Executive pursuant to this Section 4.2.5. Notwithstanding the provisions of this Section 4.2.5, the Company may elect in its sole discretion to permit the termination of Executive’s employment in advance of such ninetieth (90th) day after Notice of Termination is given; provided that Executive’s right to Salary, Annual Bonus Salary and Benefits hereunder shall automatically terminate on such earlier date of termination.