Wallace talk - the essence

On a little more thought, the essence of the Terry Wallace talk seems to be

"Please fall on your sword for LANS (voluntarily leave) so that LANS does not officially have to fire you. If you try to fall on your sword but LANS thinks that you should stay, LANS will not let you leave."

Is this the essence of the statement?

If it is, why is it in an employee's interest to fall on their sword to make life easier for LANS?

Thanks