Common use of Resignation/Retirement Clause in Contracts

Resignation/Retirement. 18. Subject to paragraph 17, this Agreement and the Executive’s Employment may be terminated on notice by the Executive to Xxxxxxxx Creek by giving ninety (90) days’ written notice. Should the Executive terminate this Agreement and Executive’s Employment, the Executive shall not be entitled to any performance bonus, Severance Payment, Without Cause Payment, Change of Control Payment, benefits, damages or any other payments or sums whatsoever, except for unused vacation as provided in paragraph 8 and except as otherwise required by law; provided, however, that should the Executive terminate this Agreement and the Executive’s Employment pursuant to this paragraph 18, Xxxxxxxx Creek in its sole discretion may designate an effective date of the Executive’s Termination of Employment earlier than the 90th day and shall pay the Executive the equivalent number of days base salary in lieu of notice. Such amount shall be payable upon Xxxxxxxx Creek’s next regularly scheduled payday. In addition, if the Executive has given ninety (90) days’ written notice to Xxxxxxxx Creek and the effective date of Executive’s Termination is on a date on which the Executive is or will be age 62 or older, the Executive shall be paid, within sixty days of the Executive’s Termination, a Severance Payment pursuant to paragraph 8, provided that the Executive has signed a general release of claims in a form satisfactory to Xxxxxxxx Creek, similar to the form of general release attached hereto as Exhibit A. If the Executive does not sign a general release within 60 days of Termination of Employment, the Severance Payment shall not vest and shall not be paid to Executive. If Xxxxxxxx Creek designates an effective date earlier than the date on which the Executive is or will be age 62 or older, such earlier effective date will not affect the Executive’s eligibility to receive the Severance Payment.

Resignation/Retirement. 18. Subject to paragraph 17, this Agreement and the Executive’s 's Employment may be terminated on notice by the Executive to Xxxxxxxx Creek by giving ninety (90) days’ ' written notice. Should the Executive terminate this Agreement and Executive’s 's Employment, the Executive shall not be entitled to any performance bonus, Severance Payment, Without Cause Payment, Change of Control Payment, benefits, damages or any other payments or sums whatsoever, except for unused vacation as provided in paragraph 8 and except as otherwise required by law; provided, however, that should the Executive terminate this Agreement and the Executive’s 's Employment pursuant to this paragraph 18, Xxxxxxxx Creek in its sole discretion may designate an effective date of the Executive’s 's Termination of Employment earlier than the 90th day and shall pay the Executive the equivalent number of days base salary in lieu of notice. Such amount shall be payable upon Xxxxxxxx Creek’s 's next regularly scheduled payday. In addition, if the Executive has given ninety (90) days’ ' written notice to Xxxxxxxx Creek and the effective date of Executive’s 's Termination is on a date on which the Executive is or will be age 62 or older, the Executive shall be paid, within sixty days of the Executive’s 's Termination, a Severance Payment pursuant to paragraph 8, provided that the Executive has signed a general release of claims in a form satisfactory to Xxxxxxxx Creek, similar to the form of general release attached hereto as Exhibit A. If the Executive does not sign a general release within 60 days of Termination of Employment, the Severance Payment shall not vest and shall not be paid to Executive. If Xxxxxxxx Creek designates an effective date earlier than the date on which the Executive is or will be age 62 or older, such earlier effective date will not affect the Executive’s 's eligibility to receive the Severance Payment.

Resignation/Retirement. 1813. Subject to paragraph 1714, this Agreement and the Executive’s 's Employment may be terminated on notice by the Executive to Xxxxxxxx Creek by giving ninety (90) days’ ' written notice. Should the Executive terminate this Agreement and Executive’s 's Employment, the Executive shall not be entitled to any performance annual bonus, benefits, Severance Payment, Retention Payment, Without Cause Payment, Change of Control Payment, benefits, damages or any other sums or payments or sums whatsoever, except for unused vacation as provided in paragraph 8 7 and except as otherwise required by law; provided, however, that should the Executive terminate this Agreement and the Executive’s 's Employment pursuant to this paragraph 1813, Xxxxxxxx Creek in its sole discretion may designate an effective date of the Executive’s 's Termination of Employment earlier than the 90th day and shall pay the Executive the equivalent number of days base salary in lieu of notice. Such amount shall be payable upon Xxxxxxxx Creek’s 's next regularly scheduled payday. In additionMoreover, if the Executive has given ninety (90) days’ ' written notice to Xxxxxxxx Creek and the effective date of Executive’s 's Termination is on a date on which that the Executive is or will be age 62 or older, the Executive shall be paid, within sixty days of the Executive’s Termination, a Severance Payment pursuant to paragraph 8, provided that the Executive has signed a general release of claims in a form satisfactory to Xxxxxxxx Creek, similar to the form of general release attached hereto as Exhibit A. If the Executive does not sign a general release within 60 days of Termination of Employment, eligible for the Severance Payment shall not vest and shall not be paid to Executivethe Retention Payment provided for in paragraph 7, provided all other conditions are met, including the execution of a general release. If Xxxxxxxx Creek designates an effective date earlier than the date on which the Executive is or will be age 62 or older, such earlier effective date will not affect the Executive’s 's eligibility to receive the Severance Payment.

Resignation/Retirement. 1817. Subject to paragraph 1715 (Triggering Event) and 16 (Change of Control), this Agreement and the Executive’s Employment may be terminated on notice by the Executive to Xxxxxxxx Creek by giving ninety (90) days’ written notice. Should the Executive terminate this Agreement and Executive’s EmploymentEmployment pursuant to this paragraph 17, the Executive shall not be entitled to any performance bonus, Severance Payment, the Without Cause Payment, Change of Control Payment, benefits, damages or any other payments or sums whatsoever, except for base salary through the date of termination, unused vacation vacation, outstanding business expenses as provided in paragraph 8 8, as may be provided pursuant to Xxxxxxxx Creek or the Parent’s bonus program, and except as otherwise required by law; provided, however, that should if the Executive retires pursuant to this paragraph 17 after age 62 or any such earlier age as may be provided pursuant to Xxxxxxxx Creek or the Parent’s bonus program then the Executive shall be entitled to a pro rated bonus with respect to the year of Termination if a bonus otherwise would have been awarded had the Executive remained employed, with payment to be made at the time the bonus would have been paid to Executive had the Executive remained employed (less withholdings). Should the Executive terminate this Agreement and the Executive’s Employment pursuant to this paragraph 1817, Xxxxxxxx Creek in its sole discretion may designate an effective date of the Executive’s Termination of Employment earlier than the 90th day and shall pay the Executive the equivalent number of days base salary in lieu of notice. Such amount shall be payable upon Xxxxxxxx Creek’s next regularly scheduled payday. In addition, if the Executive has given ninety (90) days’ written notice to Xxxxxxxx Creek and the effective date of Executive’s Termination is on a date on which the Executive is or will be age 62 or older, the Executive shall be paid, within sixty days of the Executive’s Termination, a Severance Payment pursuant to paragraph 8, provided that the Executive has signed a general release of claims in a form satisfactory to Xxxxxxxx Creek, similar to the form of general release attached hereto as Exhibit A. If the Executive does not sign a general release within 60 days of Termination of Employment, the Severance Payment shall not vest and shall not be paid to Executive. If Xxxxxxxx Creek designates an effective date earlier than the date on which the Executive is or will be age 62 or older, such earlier effective date will not affect the Executive’s eligibility to receive the Severance Payment.

Resignation/Retirement. 18. Subject to paragraph 17, this Agreement and the Executive’s Employment may be terminated on notice by the Executive to Xxxxxxxx Creek by giving ninety (90) days’ written notice. Should the Executive terminate this Agreement and Executive’s Employment, the Executive shall not be entitled to any performance bonus, Severance Payment, Without Cause Payment, Change of Control Payment, benefits, damages or any other payments or sums whatsoever, except for unused vacation as provided in paragraph 8 8, as may be provided pursuant to Xxxxxxxx Creek or the Parent’s bonus program, and except as otherwise required by law; provided, however, that should the Executive terminate this Agreement and the Executive’s Employment pursuant to this paragraph 18, Xxxxxxxx Creek in its sole discretion may designate an effective date of the Executive’s Termination of Employment earlier than the 90th day and shall pay the Executive the equivalent number of days base salary in lieu of notice. Such amount shall be payable upon Xxxxxxxx Creek’s next regularly scheduled payday. In addition, if the Executive has given ninety (90) days’ days written notice to Xxxxxxxx Creek and the effective date of Executive’s Termination is on a date on which the Executive is or will be age 62 or older, the Executive shall be paid, within sixty days of eligible for the Executive’s Termination, a Severance Payment pursuant to paragraph 8provided for in Paragraph 16(a)(i), provided that all other conditions are met, including the Executive has signed execution of a general release of claims in a form satisfactory to Xxxxxxxx Creek, similar to the form of general release attached hereto as Exhibit A. release. If the Executive does not sign a general release within 60 days of Termination of Employment, the Severance Payment shall not vest and shall not be paid to Executive. If Xxxxxxxx Creek designates an effective date earlier than the date on which the Executive is or will be age 62 or older, such earlier effective date will not affect the Executive’s eligibility to receive the Severance Payment.

Resignation/Retirement. 1813. Subject to paragraph 1714, this Agreement and the Executive’s 's Employment may be terminated on notice by the Executive to Xxxxxxxx Creek by giving ninety (90) days’ ' written notice. Should the Executive terminate this Agreement and Executive’s 's Employment, the Executive shall not be entitled to any performance annual bonus, benefits, Severance Payment, Without Cause Payment, Change of Control Payment, benefits, damages or any other sums or payments or sums whatsoever, except for unused vacation as provided in paragraph 8 7 and except as otherwise required by law; provided, however, that should the Executive terminate this Agreement and the Executive’s 's Employment pursuant to this paragraph 1813, Xxxxxxxx Creek in its sole discretion may designate an effective date of the Executive’s 's Termination of Employment earlier than the 90th day and shall pay the Executive the equivalent number of days base salary in lieu of notice. Such amount shall be payable upon Xxxxxxxx Creek’s 's next regularly scheduled payday. In addition, if the Executive has given ninety (90) days’ ' written notice to Xxxxxxxx Creek and the effective date of Executive’s 's Termination is on a date on which the Executive is or will be age 62 or older, the Executive shall be paid, within sixty days of eligible for the Executive’s Termination, a Severance Payment pursuant to provided for in paragraph 87, provided that all other conditions are met, including the Executive has signed execution of a general release of claims in a form satisfactory to Xxxxxxxx Creek, similar to the form of general release attached hereto as Exhibit A. release. If the Executive does not sign a general release within 60 days of Termination of Employment, the Severance Payment shall not vest and shall not be paid to Executive. If Xxxxxxxx Creek designates an effective date earlier than the date on which the Executive is or will be age 62 or older, such earlier effective date will not affect the Executive’s 's eligibility to receive the Severance Payment.