Common use of Termination Election Clause in Contracts

Termination Election. (i) A notice to Executive by the Company will constitute an election by the Company to terminate the Executive's employment (A) 30 days following the date of delivery of the notice if the termination is without Cause and (B) upon the date of delivery of the notice if the termination is with Cause. (ii) A notice to the Company by the Executive will constitute an election by the Executive to terminate the Executive's employment 60 days following the date of delivery of the notice.