Common use of Good Reason; Other than Cause or Disability Clause in Contracts

Good Reason; Other than Cause or Disability. If the Company terminates the Executive's employment other than for Cause or Disability, or the Executive terminates his employment for Good Reason, then: (i) within thirty (30) days after the Date of Termination, the Company shall pay the Executive an amount equal to his Base Salary through the Date of Termination at the rate in effect at the time Notice of Termination is given (or the Date of Termination where no Notice of Termination is required hereunder), together with any accrued Incentive Compensation and other amounts to which the Executive is then entitled under any plan, policy, practice or program of the Company at the time such payments are due; and (ii) in lieu of any further salary, incentive compensation or other payments for periods subsequent to the Date of Termination, and as a severance benefit to the Executive, the Company will continue to pay the Executive an amount equal the installments of Base Salary at the rate in effect at the time Notice of Termination is given (or the Date of Termination where no Notice of Termination is required hereunder) that would have been paid to the Executive had his employment not been terminated for a period of one (1) year following the Date of Termination; provided, that the Executive shall use reasonable efforts to seek other employment following such termination, and the amount of any payment provided for in this clause (ii) will be reduced by any compensation the Executive earns as the result of employment by another employer or business during the period the Company is obligated to make payments hereunder.