Common use of Employee Resignation Clause in Contracts

Employee Resignation. If Employee resigns from Employee’s employment for any reason other than for Good Reason, Employee’s resignation shall be considered a material breach of this Agreement. Notwithstanding the foregoing, in such event, only the following shall apply: (i) Company shall pay Employee Employee’s Accrued Amounts on the Date of Termination, (ii) all other Company obligations to Employee hereunder, and all Employee’s obligations to Company hereunder, shall be automatically terminated and completely extinguished, (iii) this Agreement shall be automatically terminated, and (iv) each party shall have no claims against or liability to the other party under this Agreement. Further notwithstanding the foregoing, during the Initial Term, Employee may only resign after first providing 120 days’ prior written notice to the Company.

Employee Resignation. If Employee resigns from Employee’s employment for any reason other than for Good ReasonReason during the Initial Term, Employee’s resignation shall be considered a material breach of this Agreement. Notwithstanding the foregoing, in such event, only the following shall apply: (i) Company shall pay Employee Employee’s Accrued Amounts on the Date of Termination, (ii) all other Company obligations to Employee hereunder, and all Employee’s obligations to Company hereunder, shall be automatically terminated and completely extinguished, (iii) this Agreement shall be automatically terminated, and (iv) each party shall have no claims against or liability to the other party under this Agreement. Further notwithstanding the foregoing, during the Initial Term, Employee may only resign after first providing 120 30 days’ prior written notice to the Company.