Common use of Termination Election Clause in Contracts

Termination Election. Subject to the provisions of Section 2(b): (i) A notice to Executive by the Company will constitute an election by the Company to terminate the Executive's employment pursuant to Section 2(a) 60 days following the date of delivery of the notice; (ii) A notice to the Company by the Executive will constitute an election by the Executive to terminate Executive's employment pursuant to Section 2(a) 90 days following the date of delivery of the notice; (iii) In no event, however, shall the Term of the Executive's employment hereunder extend beyond the end of the month in which the Executive's sixty-fifth (65th) birthday occurs.

Termination Election. Subject to the provisions of Section 2(b): (i) A notice to Executive by the Company will constitute an election by the Company to terminate the Executive's employment pursuant to Section 2(a) 60 45 days following the date of delivery of the notice; (ii) A notice to the Company by the Executive will constitute an election by the Executive to terminate Executive's employment pursuant to Section 2(a) 90 60 days following the date of delivery of the notice; (iii) In no event, however, shall the Term of the Executive's employment hereunder extend beyond the end of the month in which the Executive's sixty-fifth (65th) birthday occurs.