Notice; Resignation, Release Clause Samples

Notice; Resignation, Release. Any termination of the Executive by the Company under Sections 5(b) or 5(d) or by the Executive pursuant to a constructive termination under Sections 5(e) or 5(f) shall be communicated by a Notice of Termination to the other party thereto given in accordance with Section 10. A “Notice ” shall (i) indicate the specific termination provision in this Agreement relied upon, and (ii) specify the applicable effective date of termination (which date shall not be prior to the date of such notice or more than fifteen (15) days after the giving of such notice). Notwithstanding anything in this Agreement to the contrary, in order to be eligible to receive any post-termination payments or benefits hereunder, the Executive shall, in addition to fulfilling all other applicable conditions, within five days after the effective termination date (i) on behalf of the Executive and his estate, heirs and representatives, execute a release in the form attached hereto as Exhibit C.