Common use of Resignation by Executive without Good Reason Clause in Contracts

Resignation by Executive without Good Reason. Notwithstanding the provisions of Section 3 above, Executive may resign his employment hereunder without Good Reason (as defined below) upon sixty (60) days’ prior written notice to the Company (such notice hereinafter referred to as a “Resignation Notice”). If the Company receives any such Resignation Notice, the Company may elect, in its sole discretion and for any reason or for no reason, to accept Executive’s resignation as of the date set forth in the Resignation Notice, which such date shall not be later than sixty (60) days after it is provided to the Company, or request that the Executive remain through the full sixty (60) day period.

Resignation by Executive without Good Reason. Notwithstanding the provisions of Section 3 above, If Executive may resign his employment hereunder resigns without Good Reason (as defined below) upon sixty (60) days’ prior written notice Reason, provided that Executive will be required to give the Company (such notice hereinafter referred to as a “Resignation Notice”). If the Company receives any such Resignation Notice, the Company may elect, in its sole discretion and for any reason or for no reason, to accept Executive’s resignation as of the date set forth in the Resignation Notice, which such date shall not be later than at least sixty (60) days after it is provided advance written notice of such resignation of Executive’s employment, Executive shall be entitled to receive: (i) the CompanyAccrued Rights; and (ii) the Prior Year Bonus (as defined below); Following such resignation by Executive without Good Reason, except as set forth in this Section 5(c), Executive shall have no further rights to any compensation or request that any other benefits under this Agreement. The Company may elect to accelerate the Executive remain through termination date without changing the full sixty (60) day periodcharacteristic of such termination of employment as a resignation without Good Reason.