Common use of Termination Due to Resignation Clause in Contracts

Termination Due to Resignation. During the Term, Employee may resign his employment at any time (other than for Good Reason) by giving 90 days written notice of resignation to Employer. Except as otherwise set forth in this Agreement, Employee’s employment, and Employee’s right to receive compensation and benefits from Employer, will terminate upon the effective date of Employee’s termination. If Employee resigns pursuant to this Section 6(a), Employer’s only remaining financial obligation to Employee under this Agreement will be to pay, subject to Section 10: (i) any earned but unpaid Base Salary and accrued paid time off through the effective date of Employee’s termination; (ii) reimbursement of expenses incurred by Employee through the effective date of termination which are reimbursable pursuant to this Agreement; and (iii) Employee’s vested portion of awards under the LTIP Plan (or any applicable award agreement), any Magellan deferred compensation and/or other benefit plan in accordance with the applicable terms of such plan or agreement (the “Accrued Amounts”); provided that all Accrued Amounts shall remain subject to the Employer’s clawback policy(s) or other recapture policies as in effect from time to time and applicable law. In addition, for all terminations, Employee shall remain entitled to his rights under Sections 6(e)(ii), 12 and 20 of this Agreement, to the extent not otherwise forfeited in connection with such termination in accordance with applicable law.

Termination Due to Resignation. During the Term, Employee may resign his his/her employment at any time (other than for Good Reason) by giving 90 ninety (90) days written notice of resignation to Employer. Except as otherwise set forth in this Agreement, Employee’s employment, and Employee’s right to receive compensation and benefits from Employer, will terminate upon the effective date of Employee’s termination. ​ If Employee resigns pursuant to this Section 6(a), Employer’s only remaining financial obligation to Employee under this Agreement will be to pay, subject to Section 10: (i) ​ ​ ​ any earned but unpaid Base Salary and accrued paid time off through the effective date of Employee’s termination; (ii) reimbursement of expenses incurred by Employee through the effective date of termination which are reimbursable pursuant to this Agreement; and (iii) Employee’s vested portion of awards under the LTIP 2016 MIP Plan (or any successor plan or any applicable award agreement), any Magellan deferred compensation and/or other benefit plan in accordance with the applicable terms of such plan or agreement (items (i), (ii) and (iii) collectively, the “Accrued Amounts”); provided that all Accrued Amounts shall remain subject to the Employer’s clawback policy(s) or other recapture policies as in effect from time to time and applicable law. In addition, for all terminations, Employee shall remain entitled to his his/her rights under Sections 6(e)(ii), 12 and 20 of this Agreement, to the extent not otherwise forfeited in connection with such termination in accordance with applicable law.

Termination Due to Resignation. During the Term, Employee may resign his employment at any time (other than for Good Reason) by giving 90 ninety (90) days written notice of resignation to Employer. Except as otherwise set forth in this Agreement, Employee’s employment, and Employee’s right to receive compensation and benefits from Employer, will terminate upon the effective date of Employee’s termination. If Employee resigns pursuant to this Section 6(a), Employer’s only remaining financial obligation to Employee under this Agreement will be to pay, subject to Section 10: (i) any earned but unpaid Base Salary and accrued paid time off through the effective date of Employee’s termination; (ii) reimbursement of expenses incurred by Employee through the effective date of termination which are reimbursable pursuant to this Agreement; and (iii) Employee’s vested portion of awards under the LTIP 2016 MIP Plan (or any applicable award agreement), any Magellan deferred compensation and/or other benefit plan in accordance with the applicable terms of such ​ plan or agreement (items (i), (ii) and (iii) collectively, the “Accrued Amounts”); provided that all Accrued Amounts shall remain subject to the Employer’s clawback policy(s) or other recapture policies as in effect from time to time and applicable law. In addition, for all terminations, Employee shall remain entitled to his rights under Sections 6(e)(ii), 12 and 20 of this Agreement, to the extent not otherwise forfeited in connection with such termination in accordance with applicable law.