Common use of Election Not to Extend the Employment Term Clause in Contracts

Election Not to Extend the Employment Term. In the event either party 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 last day of the Employment Term. In the event that the Executive elects not to extend the Employment Term, Executive shall be entitled to receive only the Accrued Rights. In the event that the Company elects not to extend the Employment Term, Executive shall be deemed to have been terminated by the Company without Cause and will be entitled to receive the payments, rights and benefits described above in Section 8(c), with the exception that none of the then issued but unvested Performance Based Restricted Shares shall vest.

Election Not to Extend the Employment Term. In the event either party 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 Group thereafter) shall be deemed to occur on the close of business on the last day of immediately preceding the Employment Termnext scheduled Extension Date. In the event that the Executive elects not to extend the Employment Term, Executive shall be entitled to receive only the Accrued Rights. In the event that the Company Group elects not to extend the Employment Term, Executive shall be deemed to have been terminated by the Company without Cause and will be entitled to receive the paymentsAccrued Rights and the Salary Continuation Payments. Following such termination of Executive’s employment hereunder as a result of either party’s election not to extend the Employment Term, rights and benefits described above except as set forth in this Section 8(c8(d), with the exception that none of the then issued but unvested Performance Based Restricted Shares Executive shall vesthave no further rights to any compensation or any other benefits under this Agreement.

Election Not to Extend the Employment Term. In the event either party 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 last day of the Employment Term. In the event that the Executive elects not to extend the Employment Term, Executive shall be entitled to receive only the Accrued Rights. In the event that the Company elects not to extend the Employment Term, Executive shall be deemed to have been terminated by the Company without Cause and will be entitled to receive the payments, rights and benefits described above in Section 8(c), with the exception that none of the then issued but unvested Performance Based Restricted Shares shall vest.

Election Not to Extend the Employment Term. In the event either party 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 last day of the Employment Term. In the event that the Executive elects not to extend the Employment Term, Executive shall be entitled to receive only the Accrued RightsRights payable as provided in Sections 8(a)(iii)(A), (B) and (C). In the event that the Company elects not to extend the Employment Term, Executive shall be deemed to have been terminated by the Company without Cause and will be entitled to receive the payments, rights and benefits described above in Section 8(c), with the exception that none of the then issued but unvested Performance Based Restricted Shares shall vest.