Common use of Voluntary Resignation by Executive Without Good Reason Clause in Contracts

Voluntary Resignation by Executive Without Good Reason. If Executive voluntarily terminates his employment with the Company without Good Reason, then: (i) the Company shall within 15 days after termination pay Executive his Base Salary through the Date of Termination and any accrued but unused Paid Time Off amounts; (ii) the Company shall pay Executive any Bonus and any Performance Share Awards and Restricted Stock Unit Awards under Section 4(b)(i) that are earned in a previous year that has not yet been paid, which Bonus and performance awards shall be paid at such time as Bonuses and performance awards are paid to other executives but not later than March 15 of the year of termination; (iii) no Bonus shall be payable for the performance period in which termination occurs; (iv) no Performance Share Awards or Restricted Stock Unit Awards under Section 4(b)(i) or other performance based awards shall be payable for the performance period in which termination occurs; (v) any Restricted Stock Unit Awards under Section 4(b)(ii) or other time based awards that are not vested prior to or on account of such termination shall be forfeited; and (vi) the Company shall not pay or reimburse Executive for COBRA premiums for the period that the Company is required to offer COBRA coverage as a matter of law.

Voluntary Resignation by Executive Without Good Reason. If Executive voluntarily terminates his employment with the Company without Good Reason, then: (i) the Company shall within 15 days after termination pay Executive his Base Salary through the Date of Termination and any accrued but unused Paid Time Off amounts; (ii) the Company shall pay Executive any Bonus and any Performance Share Awards and Restricted Stock Unit Awards under Section 4(b)(i5(b)(i) that are earned in a previous year that has not yet been paid, which Bonus and performance awards shall be paid at such time as Bonuses and performance awards are paid to other executives but not later than March 15 of the year of termination; (iii) no Bonus shall be payable for the performance period in which termination occurs; (iv) no Performance Share Awards or Restricted Stock Unit Awards under Section 4(b)(i5(b)(i) or other performance based awards shall be payable for the performance period in which termination occurs; (v) any Restricted Stock Unit Awards under Section 4(b)(ii5(b)(ii) or other time based awards that are not vested prior to or on account of such termination shall be forfeited; and (vi) the Company shall not pay or reimburse Executive for COBRA premiums for the period that the Company is required to offer COBRA coverage as a matter of law.