Common use of Voluntary Termination without Competitive Activity Clause in Contracts

Voluntary Termination without Competitive Activity. In the event of your voluntary Termination without Competitive Activity on or after , 200 , you will be permitted to exercise this option, to the extent not previously exercised, subject to the approval of the Committee, until the Expiration Date, provided you enter into an agreement not engage in Competitive Activity or Detrimental Activity during that period of time. If you do not enter into such an agreement, or if you engage in Competitive Activity, this option, to the extent not previously exercised, shall expire immediately.

Voluntary Termination without Competitive Activity. In the event of your voluntary Termination without Competitive Activity on or after __________, 200 200_, you will be permitted to exercise this option, to the extent not previously exercised, subject to the approval of the Committee, until the Expiration Date, provided you enter into an agreement do not engage in Competitive Activity or Detrimental Activity during that period of time. If you do not enter into such an agreement, or if you engage in Competitive or Detrimental Activity, the portion of this option, to the extent option not previously exercised, exercised shall expire immediately.

Voluntary Termination without Competitive Activity. In the event of your voluntary Termination without Competitive Activity on or after , 200 , you will be permitted to exercise this option, to the extent not previously exercised, subject to the approval of the Committee, until the Expiration Date, provided you enter into an agreement do not engage in Competitive Activity or Detrimental Activity during that period of time. If you do not enter into such an agreement, or if you engage in Competitive or Detrimental Activity, the portion of this option, to the extent option not previously exercised, exercised shall expire immediately.