Common use of Termination of Employment Period Clause in Contracts

Termination of Employment Period. The Employment Period shall be terminated upon the first to occur of (i) termination of the employment of the Executive by the Company at any time without Cause (as such term is defined in Section 8) upon written notice given to the Executive at least 30 days prior to such termination, (ii) the election by the Company pursuant to Section 1 not to extend this Agreement in accordance with Section 1, (iii) the election by the Executive pursuant to Section 1 not to extend this Agreement in accordance with Section 1, (iv) termination of the employment of the Executive by the Company at any time for Cause or Serious Misconduct upon written notice given to the Executive, (v) termination of the employment of the Executive by the Company on account of the Executive's having become unable (as determined by the Board in good faith) to regularly perform his duties hereunder by reason of illness or incapacity for a period of more than 180 consecutive days, (vi) termination of the employment of the Executive by reason of retirement, (vii) the Executive's death or (viii) termination of employment by the Executive at any time upon written notice given to the Company at least 90 days prior to such termination. The date on which the Employment Period terminates is hereinafter referred to as the "Termination Date."