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 Group thereafter) shall be deemed to occur on the close of business on the day immediately preceding the next scheduled Extension Date. In the event that the Executive elects not to extend the Employment Term, Executive shall be entitled to receive the Accrued Rights. In the event that the Company Group elects not to extend the Employment Term, Executive shall be entitled to receive the Accrued 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, except as set forth in this Section 8(d), Executive shall have 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 Group thereafter) shall be deemed to occur on the close of business on the last day immediately preceding of the next scheduled Extension DateEmployment 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 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 Accrued Rights payments, 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, except as set forth benefits described above in this Section 8(d8(c), Executive with the exception that none of the then issued but unvested Performance Based Restricted Shares shall have no further rights to any compensation or any other benefits under this Agreementvest.

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 immediately preceding of the next scheduled Extension DateEmployment 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 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 Accrued Rights payments, 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, except as set forth benefits described above in this Section 8(d8(c), Executive shall have 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 Group thereafter) shall be deemed to occur on the close of business on the last day immediately preceding of the next scheduled Extension DateEmployment 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 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 Accrued Rights payments, 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, except as set forth benefits described above in this Section 8(d8(c), Executive with the exception that none of the then issued but unvested Performance Based Restricted Shares shall have no further rights to any compensation or any other benefits under this Agreementvest.