Common use of Failure of Executive to Renew Agreement; Other Voluntary Termination by the Executive Clause in Contracts

Failure of Executive to Renew Agreement; Other Voluntary Termination by the Executive. If the Employment Period terminates for any reason set forth in clause (iii) or (viii) of Section 4, (A) the Company shall pay to the Executive the amounts set forth in Section 5(a)(i), (B) the Company may, in its sole discretion, but shall have no obligation to, pay to the Executive the amount of the target bonus for the year in which the Termination Date occurs, prorated to the Termination Date, and (C) the Executive shall not be entitled to any severance payments, but shall be entitled to any benefits payable under applicable plans.