Common use of Election Not to Renew Clause in Contracts

Election Not to Renew. If the Executive elects to renew this Agreement for a Renewal Term, but Employer does not, and Employer's election not to renew is not for cause, the Executive will be entitled to receive, the Salary for the remainder, if any, of the calendar month in which such termination is effective and for eighteen (18) consecutive calendar months thereafter and the Benefits for eighteen (18) consecutive months after the date of termination.

Election Not to Renew. If the Executive Employee elects to renew this Agreement for a Renewal Term, but Employer does not, and Employer's election not to renew is not for cause, the Executive Employee will be entitled to receive, the Salary for the remainder, if any, of the calendar month in which such termination is effective and for eighteen (18) consecutive calendar months thereafter and the Benefits for eighteen (18) consecutive months after the date of termination.

Election Not to Renew. If the Executive elects to renew --------------------- this Agreement for a Renewal Term, but Employer does not, and Employer's election not to renew is not for cause, the Executive will be entitled to receive, the Salary for the remainder, if any, of the calendar month in which such termination is effective and for eighteen (18) consecutive calendar months thereafter and the Benefits for eighteen (18) consecutive months after the date of termination.