Common use of By Executive for Good Reason or by the Company Without Cause Clause in Contracts

By Executive for Good Reason or by the Company Without Cause. In the event of the termination of this Agreement by Executive for Good Reason or by the Company without Cause, the Company shall pay Executive (i) his then current Base Salary that has been earned and accrued and any Performance Bonus that has been earned through the Termination Date according to the board-approved bonus plan, and (ii) his then current Base Salary for eighteen (18) months following the Termination Date (the component in Clause (ii) is referred to as the “Termination Pay”), provided that the Executive timely executes and does not revoke a waiver and release agreement in a form to be provided by the Company. Executive acknowledges and agrees that he must deliver such executed release to the Company within twenty-one (21) days (or, if greater, the minimum period required by applicable law) after receiving a copy of the release, failing which Executive will forfeit all rights to any portion of the aforementioned Termination Pay.

By Executive for Good Reason or by the Company Without Cause. In the event of the termination of this Agreement by Executive for Good Reason or by the Company without Cause, the Company shall pay Executive (i) his then current Base Salary that has been earned and accrued and any Performance Bonus that has been earned through the Termination Date according to the board-approved bonus plan, and (ii) his then current Base Salary for eighteen twenty-four (1824) months following the Termination Date (the component in Clause (ii) is referred to as the “Termination Pay”), provided that the Executive timely executes and does not revoke a waiver and release agreement in a form to be provided by the Company. Executive acknowledges and agrees that he must deliver such executed release to the Company within twenty-one (21) days (or, if greater, the minimum period required by applicable law) after receiving a copy of the release, failing which Executive will forfeit all rights to any portion of the aforementioned Termination Pay.