Common use of Termination by Officer Clause in Contracts

Termination by Officer. Officer agrees not to voluntarily terminate his employment hereunder except by giving at least sixty (60) days written notice to the Company, except as provided in Section 2.8. Upon such voluntary termination by Officer, Officer shall be entitled to receive the following: (a) the accrued but unpaid portion of his Base Salary and any bonuses and other compensation that are earned, accrued or vested but unpaid through the date of termination; (b) an amount equal to the Severance Amount, computed and payable as provided in Section 2.12; and (c) any rights and benefits of any of the employee benefits earned, accrued or vested (including under any plans in which he was participating) as of the date of such termination, subject to the terms and conditions of such plans and benefits, but Officer shall not attain vested status in any plans or benefits in which he is not vested on the date of termination.

Termination by Officer. Officer agrees not to voluntarily terminate his employment hereunder except by giving at least sixty (60) days written notice to the Company, except as provided in Section 2.8. Upon such voluntary termination by Officer, Officer shall be entitled to receive the following: (a) the accrued but unpaid portion of his Base Salary and any bonuses and other compensation that are earned, accrued or vested but unpaid through the date of termination; (b) an amount equal to the Severance Amount, computed and payable as provided in Section 2.122.11; and (c) any rights and benefits of any of the employee benefits earned, accrued or vested (including under any plans in which he was participating) as of the date of such termination, subject to the terms and conditions of such plans and benefits, but Officer shall not attain vested status in any plans or benefits in which he is not vested on the date of termination.