Common use of Termination without cause by the Employee Clause in Contracts

Termination without cause by the Employee. The Employee may terminate this Agreement at any time upon 30 days advance written notice to the Company. Employee agrees to perform all duties up to the date of termination. In the event that a competent replacement can not be found by the Company during the 30 day notice period, Employee agrees to extend the notice period and continue to perform his duties until such replacement can be obtained, but in no circumstance will Employee be required to extend the notice period more than an additional 60 days. Should Employee elect to terminate this Agreement under the terms of this paragraph, the Company will discontinue payment of benefits as provided in Section 4, except that, any stock options already granted will remain in force under the terms and conditions for which they were originally granted.

Termination without cause by the Employee. The Employee may terminate this Agreement at any time upon 30 days advance written notice to the Company. Employee agrees to perform all duties up to the date of termination. In the event that a competent replacement can not be found by the Company during the 30 day notice period, Employee agrees to extend the notice period and continue to perform his duties until such replacement can be obtained, but in no circumstance will Employee be required to extend the notice period more than an additional 60 days. Should Employee elect to terminate this Agreement under the terms of this paragraph, the Company will discontinue payment of benefits as provided in Section 4, except that, any stock options already granted will remain in force under the terms and conditions for which which, they were originally granted.