Common use of Resignation or Withdrawal Clause in Contracts

Resignation or Withdrawal. In the event Eastland’s employment is terminated by his voluntary resignation or withdrawal, then, in that event, the following will apply unless otherwise agreed between the parties in writing: (a) If such resignation or withdrawal occurs during the first year of the term of this Agreement, then Eastland will be entitled only to two weeks salary following notice of resignation or withdrawal. Company benefits set forth in Section IV-7 shall be terminated at the end of the calendar month next following the date of notice of resignation or withdrawal. All rights to stock options, bonuses or deferred compensation not granted or vested shall be forfeited. (b) If such resignation or withdrawal occurs during the second year of the term of his Agreement, then Eastland will be entitled only to two months salary following notice of resignation or withdrawal. Company benefits set forth in Section IV-7 shall be terminated at the end of the calendar month next following the date of notice of resignation or withdrawal. All rights to stock options, bonuses or deferred compensation not granted or vested shall be forfeited. (c) If such resignation or withdrawal occurs during the third year of the term of this agreement, then Eastland will be entitled only to three months salary following notice of resignation or withdrawal and company benefits set forth in Section IV-7 shall be terminated at the end of the calendar month three months following the date of notice of resignation or withdrawal. All rights to stock options, bonuses or deferred compensation not granted or vested shall be forfeited.

Resignation or Withdrawal. In the event Eastland’s ▇▇▇▇▇▇’ employment is terminated by his voluntary resignation or withdrawal, then, in that event, the following will apply unless otherwise agreed between the parties in writing: (a) If such the resignation or withdrawal occurs during the first year of the term of this Agreement, then Eastland the ▇▇▇▇▇▇ will be entitled only to two weeks salary following notice of resignation or withdrawal. Company withdrawal and company benefits set forth in Section IV-7 shall X1-5(e) Shall be terminated at the end of the calendar month next following the date of notice of resignation or withdrawal. All rights to stock options, bonuses or deferred compensation not granted or vested shall be forfeited. (b) If such the resignation or withdrawal occurs during the second year of the term of his Agreement, then Eastland ▇▇▇▇▇▇ will be entitled only to two months salary following notice Notice of resignation or withdrawal. Company withdrawal and company benefits set forth in Section IV-7 XI-5(e) shall be terminated at the end of the calendar month next following the date of notice of resignation or withdrawal. All rights to stock options, bonuses or deferred compensation not granted or vested shall be forfeited. (c) If such the resignation or withdrawal occurs during the third year of the term of this agreement, then Eastland ▇▇▇▇▇▇ will be entitled only to three months salary following notice of resignation or withdrawal and company benefits set forth in Section IV-7 XI-5 (e) shall be terminated at the end of the calendar month three months following Following the date of notice of resignation or withdrawal. All rights to stock optionsOptions, bonuses or deferred compensation not granted or vested shall be forfeitedForfeited.

Resignation or Withdrawal. In the event Eastland’s Downs' employment is terminated by his voluntary resignation or withdrawal, then, in that event, the following will apply unless otherwise agreed between the parties in writing: (a) If such resignation or withdrawal occurs during the first year of the term of this Agreement, then Eastland Downs will be entitled only to two weeks salary following notice of resignation or withdrawal. Company benefits set forth in Section IV-7 X 1-4( e) shall be terminated at the end of the calendar month next following the date of notice of resignation or withdrawal. All rights to stock options, bonuses or deferred compensation not granted or vested shall be forfeited. (b) If such resignation or withdrawal occurs during the second year of the term of his Agreement, then Eastland Downs will be entitled only to two months salary following notice of resignation or withdrawal. Company benefits set forth in Section IV-7 XI­-4( e) shall be terminated at the end of the calendar month next following the date of notice of resignation or withdrawal. All rights to stock options, bonuses or deferred compensation not granted or vested shall be forfeited. (c) If such resignation or withdrawal occurs during the third year of the term of this agreement, then Eastland Downs will be entitled only to three months salary following notice of resignation or withdrawal and company benefits set forth in Section IV-7 XI-4(e) shall be terminated at the end of the calendar month three months following the date of notice of resignation or withdrawal. All rights to stock options, bonuses or deferred compensation not granted or vested shall be forfeited.