Common use of Non-Renewal by EDGEN Clause in Contracts

Non-Renewal by EDGEN. If EDGEN elects not to renew the Employment Term in accordance with Section 4.4 above and, at the time of such non-renewal, the Executive is willing and able to continue providing the services in accordance with the terms of this Agreement, then (i) EDGEN shall have no further obligations hereunder after the Expiration Date other than payment to the Executive of the Accrued Obligations and (ii) provided that the Executive executes and delivers to EDGEN the Release and the Release becomes irrevocable within 60 days following the Termination Date, all unvested Equity Awards held by Executive on the Termination Date shall become immediately vested (for performance-based awards, vesting shall be subject to satisfaction of any applicable performance criteria, as determined in accordance with the applicable plan).