Common use of Executive’s Resignation Without Good Reason; Election Not to Renew by Executive Clause in Contracts

Executive’s Resignation Without Good Reason; Election Not to Renew by Executive. In the event that the Employment Term is terminated by Executive pursuant to Section 3.2.2 hereof or Executive elects not to renew this Agreement pursuant to Section 3.1 hereof, Par shall pay to Executive in a single lump-sum within forty-five (45) days of the Date of Termination an amount equal to any unpaid but earned Base Salary through the Date of Termination, in accordance with Par’s regular payroll practices. Par shall also pay any annual bonus earned but unpaid as of the Date of Termination for any previously completed fiscal year in accordance with the terms of the bonus, and such employee benefits as to which Executive may be entitled under the employee benefit plans of Employer.