Common use of Termination Notice and Termination Date Clause in Contracts

Termination Notice and Termination Date. Either the Company or Executive may terminate Executive’s employment at any time by delivery to the other party of a written notice (the “Termination Notice”) specifying the effective date of termination of Executive’s employment (the “Termination Date”) (except in the case of termination as a result of Executive’s death, in which case, termination shall be automatic and the Termination Date shall be the date of death). If Executive terminates his employment for any reason other than Good Reason, the Termination Date specified by Executive in his Termination Notice shall be no less than 30 days after the date the Company receives the Termination Notice, but the Company may elect, in its sole discretion, upon written notice to Executive, to change the specified Termination Date to any earlier date which is on or after the date of receipt of the Termination Notice.