Common use of Termination Due to Resignation Clause in Contracts

Termination Due to Resignation. Executive may resign his or her employment at any time by giving 90 days written notice of resignation to Employer. Except as otherwise set forth in this Agreement, Executive's employment, and Executive's right to receive compensation and benefits from Employer, will terminate upon the effective date of Executive's termination. If Executive resigns pursuant to this Section 6(a), Employer's only remaining financial obligation to Executive under this Agreement will be to pay: (i) any earned but unpaid Base Salary through the date of termination, (ii) all vested stock options shall remain exercisable until the later of (A) 90 days following the date of termination or (B) the 45th day following the first day on or after the date of termination on which Executive is not subject to a trading "blackout" imposed by the Company and may sell the shares acquired upon option exercise without violation of Rule 10b-5 under the Securities Exchange Act of 1934, (iii) any other amounts earned, accrued or owing to Executive but not yet paid, and (iv) other payments, entitlements or benefits, if any, that are payable in accordance with applicable plans, programs, arrangements or other agreements of the Company or any affiliate.

Termination Due to Resignation. Executive may resign his or her employment at any time by giving 90 days written notice of resignation to Employer. Except as otherwise set forth in this Agreement, Executive's employment, and Executive's right to receive compensation and benefits from Employer, will terminate upon the effective date of Executive's termination. If Executive resigns pursuant to this Section 6(a), Employer's only remaining financial obligation to Executive under this Agreement will be to pay: (i) any earned but unpaid Base Salary through the date of termination, (ii) all vested stock options shall remain exercisable until the later of (A) 90 days following the date of termination or (B) the 45th day following the first day on or after the date of termination on which Executive is not subject to a trading "blackout" imposed by the Company and may sell the shares acquired upon option exercise without violation of Rule 10b-5 under the Securities Exchange Act of 1934, (iii) any other amounts earned, accrued or owing to Executive but not yet paid, and (iv) other payments, entitlements or benefits, if any, that are payable in accordance with applicable plans, programs, arrangements or other agreements of the Company or any affiliate.