Common use of Entitlement to Severance Clause in Contracts

Entitlement to Severance. Subject to the other terms and conditions of this Agreement, Executive shall be entitled to the Accrued Benefits, and to the severance benefits described in Section 5(b), in the following circumstances while this Agreement is in effect: (i) Executive’s employment is terminated by the Company without Cause, except in the case of death or Disability; (ii) Executive’s employment is terminated due to the Company’s notice of non-renewal of the Employment Term pursuant to Section 1 hereof; or (iii) Executive terminates his employment with the Company for Good Reason. For the avoidance of doubt, if Executive dies or becomes Disabled after receiving a notice by the Company (i) that Executive is being terminated without Cause or (ii) of non-renewal of the Employment Term, or after providing notice of termination for Good Reason, then Executive’s estate, heirs and beneficiaries, in the case of Executive’s death, or Executive or his personal representative, in the case of Executive’s Disability, shall be entitled to the Accrued Benefits and the severance benefits described in Section 5(b) at the same time such amounts would have been paid or benefits provided to Executive had he lived or not become Disabled.

Entitlement to Severance. Subject to the other terms and conditions of this Agreement, Executive shall be entitled to the Accrued Benefits, and to the severance benefits described in Section 5(b), in the following circumstances while this Agreement is in effect: (i) Executive’s employment is terminated by the Company without Cause, except in the case of death or Disability; (ii) Executive’s employment is terminated due to the expiration of the Employment Term as a result of the Company’s notice of non-renewal of the Employment Term pursuant to Section 1 hereof; or (iii) Executive terminates his Executive’s employment with the Company for Good Reason. For the avoidance of doubt, if Executive dies or becomes Disabled after receiving a notice by the Company (i) that Executive is being terminated without Cause or (ii) of non-renewal of the Employment Term, or after providing notice of termination for Good Reason, then Executive’s estate, heirs and beneficiaries, in the case of Executive’s death, or Executive or his Executive’s personal representative, in the case of Executive’s Disability, shall be entitled to the Accrued Benefits and the severance benefits described in Section 5(b) and 5(c) (if applicable) at the same time such amounts would have been paid or benefits times provided to Executive had he lived or not become Disabledin Section 5(b) and 5(c) (if applicable).