Common use of TERMINATION OF EMPLOYMENT AND EFFECTS OF SUCH TERMINATION Clause in Contracts

TERMINATION OF EMPLOYMENT AND EFFECTS OF SUCH TERMINATION. 3.1 Employee’s employment with Employer shall be terminated prior to the end of the Term: (i) upon the death of Employee, (ii) upon Employee’s Retirement (as defined below), (iii) upon Employee’s Permanent Disability (as defined below), (iv) at any time by Employer upon written notice to Employee, or (v) by Employee upon 90 days prior written notice to Employer. Employee agrees and confirms that any termination of Employee’s employment pursuant to this ‎Article 3 shall constitute, with no further action required, Employee’s resignation from any position that Employee holds on the Board and as an employee of, or member of the board of directors of, any of Employer’s subsidiaries or affiliates, each such resignation to be effective on the date of the termination of the Employee’s employment hereunder. 3.2 If Employee’s employment is terminated by reason of any of the following circumstances ‎(i), ‎(ii), ‎(iii) or ‎(iv), Employee shall be entitled to receive only the benefits set forth in Section 3.3 below: