Common use of Resignation by Executive without Good Reason following the Term Clause in Contracts

Resignation by Executive without Good Reason following the Term. In the event that following the expiration of the Term on its own accord (assuming Executive’s employment has not been terminated prior to such date), Executive resigns without Good Reason, Executive shall be entitled to receive, subject to compliance with the release requirement of Section 9 and except as otherwise provided in Sections 13(h) and 15(f): (i) the Accrued Obligations, and (ii) all unvested LTI Awards granted in respect of calendar years 2015, 2016 and 2017 shall immediately vest in full as of the Termination Date (but not unvested LTI Awards granted in respect of calendar year 2018 or later which shall be forfeited), provided that (A) performance-based LTI Awards shall vest based on performance as of the Termination Date, and (B) Price-Vesting Options shall be subject to vesting in accordance with Section 4(b) or be forfeited if they do not vest as provided in Section 4(b). All then vested options and those that become vested pursuant to Section 4(b) shall remain outstanding until the end of the term of the applicable option. For the avoidance of doubt, expiration of Term on its own accord shall not be deemed a resignation by Executive.