Common use of Involuntary Termination and Resignation for Good Reason Clause in Contracts

Involuntary Termination and Resignation for Good Reason. The Executive shall be entitled to and shall receive the severance payments and benefits described in Section 2 of this Agreement if, and only if there has been an Involuntary Termination (as defined below) of the Executive's employment by the Company or there has been a Resignation for Good Reason, provided that, as a condition to the Executive receiving the severance payments and benefits described in Section 2, the Executive shall have executed and delivered to the Company, and shall not have revoked, the Release and Settlement Agreement in the form attached hereto as Schedule 1 prior to or simultaneously with receiving such severance payments and benefits.