Common use of Default by Company Clause in Contracts

Default by Company. In the event COMPANY shall terminate the ------------------ employment of EMPLOYEE prior to the expiration of the term of this Agreement for reasons other than good cause, COMPANY'S liability to employee shall be limited to an amount equal to one-hundred (100%) percent of EMPLOYEE'S compensation as set forth in paragraph 3 herein for the remainder of the contract term in complete discharge of any further obligations COMPANY may have to EMPLOYEE by law, in equity or under this Agreement. If such termination is for good cause, COMPANY shall pay to EMPLOYEE an amount equal to one month of EMPLOYEE'S annual compensation and shall not be liable to EMPLOYEE for any further damages or severance compensation whatsoever. COMPANY shall be deemed to have terminated EMPLOYEE without good cause if COMPANY conditions EMPLOYEE'S further employment upon changing his residence from northwest Arkansas.

Default by Company. In the event COMPANY shall terminate the ------------------ employment of EMPLOYEE prior to the expiration of the term of this Agreement for reasons other than good cause, COMPANY'S liability to employee shall be limited to an amount equal to one-hundred (100%) percent of EMPLOYEE'S compensation as set forth in paragraph 3 herein for the remainder of the contract term in complete discharge of any further obligations COMPANY may have to EMPLOYEE by law, in equity or under this Agreement. If such termination is for good cause, COMPANY shall pay to EMPLOYEE an amount equal to one month months of EMPLOYEE'S annual compensation and shall not be liable to EMPLOYEE for any further damages or severance compensation whatsoever. COMPANY shall be deemed to have terminated EMPLOYEE without good cause if COMPANY conditions EMPLOYEE'S further employment upon changing his residence from northwest Arkansas.