Common use of Consideration for Termination Clause in Contracts

Consideration for Termination. (a) In consideration for the termination of the Severance Agreement, SHI and the Executive agree that in the event of the termination of the Executive’s employment without Cause by SHI or by the Executive for Good Reason on or after the Agreement Date and prior to the second anniversary of the Effective Time, the Executive shall be entitled to the payments and benefits set forth in Schedule I hereto. For purposes of clarity, a termination by reason of disability does not constitute a termination by SHI of the Executive’s employment without Cause.

Consideration for Termination. (a) In consideration for the termination of the Severance Agreement, SHI and the Executive agree that in the event of the termination of the Executive’s employment without Cause by SHI or by the Executive for Good Reason on or after the Agreement Date and prior to the second anniversary of the Effective Time, the Executive shall be entitled to the payments and benefits set forth in Schedule I hereto. For purposes of clarity, a termination by reason of disability does not constitute a termination by SHI of the Executive’s employment without Cause.