Common use of Resignation by Executive without Good Reason Clause in Contracts

Resignation by Executive without Good Reason. If Executive terminates Executive’s employment with the Company without “Good Reason” pursuant to subsection 6(b), then the Executive shall not be entitled to severance pay. However, in such event the Company shall pay to Executive his accrued but unpaid salary and any amount due (and not previously paid) to Executive under subsection 3(e) for reasonable expenses incurred by Executive in the performance of his duties hereunder.

Resignation by Executive without Good Reason. If Executive terminates Executive’s employment with the Company this Agreement without “Good Reason” pursuant to subsection 6(b), then the Executive shall not be entitled to any severance pay. However, in such event the Company shall pay to Executive his accrued but unpaid salary and any amount due (and not previously paid) to Executive under subsection 3(e) for reasonable expenses incurred by Executive in the performance of his duties hereunder.