Election Not to Extend. In the event that the Company elects, pursuant to Section 2 above, not to extend the Term, then, such election shall be treated for all purposes hereof the same as the termination by the Company of Executive's employment for other than Cause, and, in such case, commencing upon the date of the expiration of the Term, Executive shall be entitled to receive from the Company the same payments and benefits as Executive would be entitled to receive pursuant to Section 6(a) above; provided, however, and notwithstanding anything contained in Section 6(a) above to the contrary, in connection with an election by the Company not to renew the Term, the applicable "Severance Period" shall not extend beyond the date that the Executive reaches the age of sixty-five (65).
Election Not to Extend. If the Company elects not to extend the term of this Employment Agreement pursuant to Section 2, the Company shall pay Employee his base salary in accordance with Section 3(a) for twelve (12) months following the Date of Termination and continue Employee's health and welfare benefits for six (6) months following the Date of Termination on substantially the same basis as existed on the Date of Termination.
Election Not to Extend. At the end of the Term of this Agreement, if Niagara Mohawk and Licensee, or either of them in its sole discretion, elects not to extend this Agreement, the Agreement shall expire on the Ending Date.
Election Not to Extend the Employment Term by Executive. In the event Executive elects not to extend the Employment Term pursuant to Section 1, unless Executive's employment is earlier terminated pursuant to paragraphs (a), (b) or (c) of this Section 8, Executive's termination of employment hereunder (whether or not Executive continues as an employee of the Company thereafter) shall be deemed to occur on the close of business on the day immediately preceding the next scheduled Extension Date and Executive shall be entitled to receive (x) the Base Salary through the date of such termination hereunder and (y) such Employee Benefits, if any, as to which he may be entitled under the employee benefit plans and arrangements of the Company. Following such termination of Executive's employment hereunder as a result of Executive's election not to extend the Employment Term, except as set forth in this Section 8(d)(i), Executive shall have no further rights to any compensation or any other benefits under this Agreement.
