Common use of Basic Covenant Clause in Contracts

Basic Covenant. In order to induce the Executive to remain in the -------------- employ of the Company and in consideration of the Executive's covenants set forth in Section 4 hereof, the Company agrees, under and subject to the terms and conditions set forth herein, that (a) upon a Change in Control during the term of this Agreement, certain benefits shall be paid to the extent set forth in Section 5 hereof, and (b) if the Executive is discharged or terminated without Cause in Anticipation of a Change of Control, the Company shall pay to the Executive the benefits and other payments provided for hereunder to the same extent as if the Executive had remained employed by the Company on the date of the Change in Control.