Common use of Termination on Account of Employee’s Voluntary Resignation Clause in Contracts

Termination on Account of Employee’s Voluntary Resignation. Employee may terminate this Agreement and his or her employment hereunder, upon 30 days prior written notice to the Company or such shorter period as may be agreed upon by the parties hereto. In such event, the Company shall pay to Employee the amount of his or her accrued but unpaid Base Compensation. No additional payments or benefits shall be due hereunder, except as may be required under a separate plan, policy or program maintained by the Company or as may be required by law to be provided. If Employee voluntarily terminates this Agreement and his or her employment hereunder on or after the date on which he or she attains age 65 and completes three years of service with the Company, then notwithstanding any provision of any plan, policy, contract or arrangement to the contrary, he or she shall receive the following amounts and benefits, in addition to any amount or benefit payable under a separate plan, policy or program maintained by the Company: a. Any stock options then outstanding shall be fully vested and be and remain exercisable during the one-year period following such termination or such longer period expressly provided under the terms of Employee’s individual grant or award; b. The amount of any bonus due under the Company’s Annual Incentive Plan or a successor thereto with respect to the Company’s most recently completed fiscal year, if any, to the extent that such bonus has not yet been paid as of such date, which amount shall be paid in the form of a single-sum on the payment date generally applicable to such bonus; c. A monthly amount equal to the Company’s portion of Employee’s premium or similar contribution under the Company’s group medical plan, such amount to be (i) based upon Employee’s level of enrollment in the Company’s group medical plan as of his or her Termination Date, (ii) paid during the 12-month period following Employee’s Termination Date or until the date on which Employee’s continuation coverage ceases in accordance with Code Section 4980B, if earlier, and (iii) contingent upon Employee’s timely election to continue his or her coverage under the Company’s group medical plan in accordance with Code Section 4980B; and d. An amount equal to Employee’s average bonus paid under the Company’s Annual Incentive Plan or a successor thereto during the Company’s three most recently completed fiscal years, determined net of any deferral under the Deferred Bonus Plan, multiplied by a fraction (i) the numerator of which is the number of days of Employee’s service during the fiscal year in which Employee’s Termination Date occurs, and (ii) the denominator of which is 365.

Termination on Account of Employee’s Voluntary Resignation. Employee may terminate this Agreement and his or her employment hereunder, upon 30 days prior written notice to the Company or such shorter period as may be agreed upon by the parties hereto. In such event, the Company shall pay to Employee the amount of his or her accrued but unpaid Base Compensation. No additional payments or benefits shall be due hereunder, except as may be required under a separate plan, policy or program maintained by the Company or as may be required by law to be provided. If Employee voluntarily terminates this Agreement and his or her employment hereunder on or after the date on which he or she attains age 65 and completes has completed at least three years of service with the Company, then notwithstanding any provision of any plan, policy, contract or arrangement to the contrary, he or she shall receive the following amounts and benefits, in addition to any amount or benefit payable under a separate plan, policy or program maintained by the Company: a. Any stock options or other equity awards then outstanding shall be fully vested and be and remain exercisable during the one-year period following such termination or such longer period expressly provided under the terms of Employee’s individual grant or award; b. The amount of any bonus due under the Company’s Annual Incentive Plan or a successor thereto with respect to the Company’s most recently completed fiscal year, if any, to the extent that such bonus has not yet been paid as of such date, which amount shall be paid in the form of a single-sum on the payment date generally applicable to such bonus; c. A monthly amount equal to the Company’s portion of Employee’s premium or similar contribution under the Company’s group medical plan, such amount to be (i) based upon Employee’s level of enrollment in the Company’s group medical plan as of his or her Termination Date, (ii) paid during the 12-month period following Employee’s Termination Date or until the date on which Employee’s continuation coverage ceases in accordance with Code Section 4980B, if earlier, and (iii) contingent upon Employee’s timely election to continue his or her coverage under the Company’s group medical plan in accordance with Code Section 4980B; and d. An amount equal to Employee’s average bonus paid under the Company’s Annual Incentive Plan or a successor thereto during the Company’s three most recently completed fiscal years, determined net of any deferral under the Deferred Bonus Plan, multiplied by a fraction (i) the numerator of which is the number of days of Employee’s service during the fiscal year in which Employee’s Termination Date occurs, and (ii) the denominator of which is 365.

Termination on Account of Employee’s Voluntary Resignation. Employee may terminate this Agreement and his or her employment hereunder, upon 30 days prior written notice to the Company or such shorter period as may be agreed upon by the parties hereto. In such event, the Company shall pay to Employee the amount of his or her accrued but unpaid Base Compensation. No additional payments or benefits shall be due hereunder, except as may be required under a separate plan, policy or program maintained by the Company or as may be required by law to be provided. If Employee voluntarily terminates this Agreement and his or her employment hereunder on or after the date on which he or she attains age 65 and completes three has completed at least ten (10) years of service with the Company, then notwithstanding any provision of any plan, policy, contract or arrangement to the contrary, he or she shall receive the following amounts and benefits, in addition to any amount or benefit payable under a separate plan, policy or program maintained by the Company: a. Any stock options then outstanding shall Treatment of any and all equity awards will be fully vested determined by the applicable award agreement and be and remain exercisable during the one-year period following such termination or such longer period expressly provided under the terms of Employee’s individual grant or award;the Equity Plan (as defined in Section 4). b. The amount of any bonus due under the Company’s Annual Incentive Plan or a successor thereto with respect to the Company’s most recently completed fiscal year, if any, to the extent that such bonus has not yet been paid as of such date, which amount shall be paid in the form of a single-sum on the payment date generally applicable to such bonus; c. A monthly amount equal to the Company’s portion of Employee’s premium or similar contribution under the Company’s group medical plan, such amount to be (i) based upon Employee’s level of enrollment in the Company’s group medical plan as of his or her Termination Date, (ii) paid monthly during the 12-month period following Employee’s Termination Date or until the date on which Employee’s continuation coverage ceases in accordance with Code Section 4980B, if earlier, and (iii) contingent upon Employee’s timely election to continue his or her coverage under the Company’s group medical plan in accordance with Code Section 4980B; and d. An amount equal to Employee’s average bonus paid under the Company’s Annual Incentive Plan or a successor thereto during the Company’s three most recently completed fiscal years, determined net of any deferral under the Deferred Bonus Plan, multiplied by a fraction (i) the numerator of which is the number of days of Employee’s service during the fiscal year in which Employee’s Termination Date occurs, and (ii) the denominator of which is 365.

Termination on Account of Employee’s Voluntary Resignation. Employee may terminate this Agreement and his or her employment hereunder, upon 30 days prior written notice to the Company or such shorter period as may be agreed upon by the parties hereto. In such event, the Company shall pay to Employee the amount of his or her accrued but unpaid Base Compensation. No additional payments or benefits shall be due hereunder, except as may be required under a separate plan, policy or program maintained by the Company or as may be required by law to be provided. If Employee voluntarily terminates this Agreement and his or her employment hereunder on or after the date on which he or she attains age 65 and completes has completed at least three years of service with the Company, then notwithstanding any provision of any plan, policy, contract or arrangement to the contrary, he or she shall receive the following amounts and benefits, in addition to any amount or benefit payable under a separate plan, policy or program maintained by the Company: a. Any stock options then outstanding shall be fully Equity awards will become vested and be and will remain exercisable during in accordance with the one-year period following such termination or such longer period expressly provided under applicable award agreement and the terms of Employee’s individual grant or award;the Equity Plan (as defined in Section 4). b. The amount of any bonus due under the Company’s Annual Incentive Plan or a successor thereto with respect to the Company’s most recently completed fiscal year, if any, to the extent that such bonus has not yet been paid as of such date, which amount shall be paid in the form of a single-sum on the payment date generally applicable to such bonus; c. A monthly amount equal to the Company’s portion of Employee’s premium or similar contribution under the Company’s group medical plan, such amount to be (i) based upon Employee’s level of enrollment in the Company’s group medical plan as of his or her Termination Date, (ii) paid during the 12-month period following Employee’s Termination Date or until the date on which Employee’s continuation coverage ceases in accordance with Code Section 4980B, if earlier, and (iii) contingent upon Employee’s timely election to continue his or her coverage under the Company’s group medical plan in accordance with Code Section 4980B; and d. An amount equal to Employee’s average bonus paid under the Company’s Annual Incentive Plan or a successor thereto during the Company’s three most recently completed fiscal years, determined net of any deferral under the Deferred Bonus Plan, multiplied by a fraction (i) the numerator of which is the number of days of Employee’s service during the fiscal year in which Employee’s Termination Date occurs, and (ii) the denominator of which is 365.