Common use of Termination by Executive for Convenience Clause in Contracts

Termination by Executive for Convenience. Executive may terminate the Term of Employment at any time for Executive's convenience, including his election to retire at any time, upon a minimum of sixty (60) days' prior written notice to the Company. The Company shall have the option of waiving all or part of Executive's services during all or part of such notice period; provided, however, that until the end of such notice period (i) the Company shall continue to pay or provide to Executive the amounts and benefits described in Section 2 above and (ii) Executive shall continue to be an "employee" of the Company or one of its subsidiaries and shall not commence active employment with another employer. In the event a purported termination of the Term of Employment by Executive because of an Event of Termination is, for any reason, found to be invalid, erroneous or incorrect, such termination shall be treated as a termination by Executive for Executive's convenience pursuant to this Subsection 3(f).

Termination by Executive for Convenience. Executive may terminate the Term of Employment at any time for Executive's convenience, including his election to retire at any time, upon a minimum of sixty (60) 90 days' prior written notice to the Company. The Company shall have the option of waiving all or part of Executive's services during all or part of such notice period; provided, however, that until the end of such notice period (i) the Company shall continue to pay or provide to Executive the amounts and benefits described in Section 2 above and (ii) Executive shall continue to be an "employee" of the Company or one of its subsidiaries and shall not commence active employment with another employer. In the event a purported termination of the Term of Employment by Executive because of an Event of Termination is, for any reason, found to be invalid, erroneous or incorrect, such termination shall be treated as a termination by Executive for Executive's convenience pursuant to this Subsection 3(fSection 3(e).