Common use of At the Election of the Executive Clause in Contracts

At the Election of the Executive. The Executive may terminate his employment and this AGREEMENT at any time for any reason or for no reason during or after the employment term upon thirty (30) days’ written notice to the Company of his election to terminate. If the Executive’s employment is terminated pursuant to this Section 8.4, the Executive shall not be entitled to any Severance Payment or other termination benefit, except for wages earned by Executive up to the effective date of his resignation and any accrued but unused vacation time. If the Executive resigns under this Section 8.4, all unvested Options granted to the Executive shall be forfeited, and the expiration date for exercise of all vested Options granted to the Executive shall be determined in accordance with the terms of the Company’s Plan.