Common use of Eligibility for Severance Benefits Clause in Contracts

Eligibility for Severance Benefits. In the event that (a) Executive’s employment has been terminated due to an Involuntary Termination or due to Executive’s resignation for Good Reason, in either case, prior to or within twenty-four (24) months after the effective date of a Change in Control (such event is referred to as a “Covered Termination”) and (b) Executive complies with the obligations described below in Section 1.3, then Executive will be eligible for the severance benefits describe below in Section 1.2, subject to the restrictions and limitations in this Agreement. If Executive’s employment with the Company terminates for any reason other than a Covered Termination, then Executive will not be eligible to receive any compensation under this Agreement.