Common use of Voluntary Termination (Including Retirement) Clause in Contracts

Voluntary Termination (Including Retirement). Executive shall give Employer not less than sixty (60) days’ prior written notice of his intention voluntarily to terminate his employment by Employer other than for Good Reason. If Executive terminates his employment on his own initiative without Good Reason and under circumstances other than (i) a termination due to death or (ii) an Expiration of the Term , then Executive upon such termination (“Voluntary Termination”), including a Voluntary Termination upon or after reaching age 62 (“Retirement”), will be entitled to receive the following: (a) the Accrued Obligations, (b) the Additional Benefits, in accordance with the terms of the applicable plan, program or arrangement, (c) any bonus actually awarded or earned for a prior year or current year, but not yet paid as of the date of termination, (d) the continuation of health, dental, and other welfare benefits for Executive, his spouse and dependents for a period of 18 months ("Continuing Benefit Plans"), and (e) any rights to indemnification in accordance with Section 6 of this Agreement. Executive's participation in the Continuing Benefit Plans will be on the same terms and conditions (e.g., at the same level and out-of-pocket cost) as were in effect on the date of the Voluntary Termination. To the extent any such benefits cannot be provided under the terms of the applicable plan, policy or program, or Executive is prohibited from continuing to participate in the Continuing Benefit Plans, Employer shall provide (or shall cause to be provided) alternative benefit coverage or otherwise make Executive substantially whole in the aggregate by providing Executive with cash compensation of substantially equivalent economic value after taking into account all state and federal income taxes. Participation by Executive (and, to the extent applicable, Executive's spouse and dependents) in any Continuing Benefit Plan shall cease on the date, if any, on which Executive becomes eligible for comparable benefits under a similar plan, policy or program of a subsequent employer.

Voluntary Termination (Including Retirement). Executive shall give Employer not less than sixty (60) days’ prior written notice of his intention voluntarily to terminate his employment by Employer other than for Good Reason. If Executive terminates his employment on his own initiative without Good Reason and under circumstances other than (i) a termination due to death or (ii) an Expiration of the Term Due to Non-Renewal, then Executive upon such termination (“Voluntary Termination”), including a Voluntary Termination upon or after reaching age 62 (“Retirement”), ) will be entitled to receive the following: (a) the Accrued Obligations, (b) the Additional Benefits, in accordance with the terms of the applicable plan, program or arrangement, (c) any bonus actually awarded or earned for a prior year or current year, but not yet paid as of the date of termination, (d) the continuation of health, dental, and other welfare benefits for the Executive, his spouse and dependents for a period of 18 months ("Continuing Benefit Plans"), and (e) any rights to indemnification in accordance with Section 6 of this Agreement. Executive's participation in the Continuing Benefit Plans will be on the same terms and conditions (e.g., at the same level and out-of-pocket cost) as were in effect on the date of the Voluntary Termination. To the extent any such benefits cannot be provided under the terms of the applicable plan, policy or program, or Executive is prohibited from continuing to participate in the Continuing Benefit Plans, Employer shall provide (or shall cause to be provided) alternative benefit coverage or otherwise make the Executive substantially whole in the aggregate by providing the Executive with cash compensation of substantially equivalent economic value after taking into account all state and federal income taxes. Participation by Executive (and, to the extent applicable, Executive's spouse and dependents) in any Continuing Benefit Plan shall cease on the date, if any, on which Executive becomes eligible for comparable benefits under a similar plan, policy or program of a subsequent employer.

Voluntary Termination (Including Retirement). Executive shall give Employer not less than sixty (60) days’ prior written notice of his intention voluntarily to terminate his employment by Employer other than for Good Reason. If Executive terminates his employment on his own initiative without Good Reason and under circumstances other than (i) a termination due to death or (ii) an Expiration of the Term Due to Non-Renewal, then Executive upon such termination (“Voluntary Termination”), including a Voluntary Termination upon or after reaching age 62 (“Retirement”), will only be entitled to receive the following: (a) the Accrued Obligations, (b) the Additional Benefits, in accordance with the terms of the applicable plan, program or arrangement, (c) any bonus actually awarded or earned for a prior year or current year, but not yet paid as of the date of termination, (d) the continuation of health, dental, and other welfare benefits for the Executive, his spouse and dependents for a period of 18 months ("Continuing Benefit Plans"), and (e) any rights to indemnification in accordance with Section 6 of this Agreement. Executive's participation in the Continuing Benefit Plans will be on the same terms and conditions (e.g., at the same level and out-of-pocket cost) as were in effect on the date of the Voluntary Termination. To the extent any such benefits cannot be provided under the terms of the applicable plan, policy or program, or Executive is prohibited from continuing to participate in the Continuing Benefit Plans, Employer shall provide (or shall cause to be provided) alternative benefit coverage or otherwise make the Executive substantially whole in the aggregate by providing the Executive with cash compensation of substantially equivalent economic value after taking into account all state and federal income taxes. Participation by Executive (and, to the extent applicable, Executive's spouse and dependents) in any Continuing Benefit Plan shall cease on the date, if any, on which Executive becomes eligible for comparable benefits under a similar plan, policy or program of a subsequent employer.

Voluntary Termination (Including Retirement). Executive shall give Employer not less than sixty (60) days’ prior written notice of his intention voluntarily to terminate his employment by Employer other than for Good Reason. If Executive terminates his employment on his own initiative without Good Reason and under circumstances other than (i) a termination due to death or (ii) an Expiration of the Term Due to Non-Renewal, then Executive upon such termination (“Voluntary Termination”), including a Voluntary Termination upon or after reaching age 62 (“Retirement”), will be entitled to receive the following: (a) the Accrued Obligations, (b) the Additional Benefits, in accordance with the terms of the applicable plan, program or arrangement, (c) any bonus actually awarded or earned for a prior year or current year, but not yet paid as of the date of termination, (d) the continuation of health, dental, and other welfare benefits for the Executive, his spouse and dependents for a period of 18 months ("Continuing Benefit Plans"), and (e) any rights to indemnification in accordance with Section 6 of this Agreement. Executive's participation in the Continuing Benefit Plans will be on the same terms and conditions (e.g., at the same level and out-of-pocket cost) as were in effect on the date of the Voluntary Termination. To the extent any such benefits cannot be provided under the terms of the applicable plan, policy or program, or Executive is prohibited from continuing to participate in the Continuing Benefit Plans, Employer shall provide (or shall cause to be provided) alternative benefit coverage or otherwise make the Executive substantially whole in the aggregate by providing the Executive with cash compensation of substantially equivalent economic value after taking into account all state and federal income taxes. Participation by Executive (and, to the extent applicable, Executive's spouse and dependents) in any Continuing Benefit Plan shall cease on the date, if any, on which Executive becomes eligible for comparable benefits under a similar plan, policy or program of a subsequent employer.