Common use of Termination to the Executive Clause in Contracts

Termination to the Executive. The giving of a notice pursuant to clause (i) of the proviso contained in the penultimate sentence of Section I hereof shall not be deemed a termination of the Executive's employment by the party giving such notice. As used in this Agreement, "Notice of Termination" means a notice in writing purporting to terminate the Executive's employment in accordance with this Section 5, which notice shall (i) specify the effective date of such termination (not prior to the date of such notice) and (ii) in the case of a termination by the Company for Cause or Disability or a termination by the Executive for Disability or Good Reason (in each case as such terms are defined below), set forth in reasonable detail the reason for such termination and the facts and circumstances claimed to provide a basis for such termination.

Termination to the Executive. The giving of a notice pursuant to clause (i) of the proviso contained in the penultimate sentence of Section I l hereof shall not be deemed a termination of the Executive's employment by the party giving such notice. As used in this Agreement, "Notice of Termination" means a notice in writing purporting to terminate the Executive's employment in accordance with this Section 5, which notice shall (i) specify the effective date of such termination (not prior to the date of such notice) and (ii) in the case of a termination by the Company for Cause or Disability or a termination by the Executive for Disability or Good Reason (in each case as such terms are defined below), set forth in reasonable detail the reason for such termination and the facts and circumstances claimed to provide a basis for such termination.