Common use of Resignation without Good Reason; Termination for Cause Clause in Contracts

Resignation without Good Reason; Termination for Cause. In the event the Executive voluntarily terminates his employment hereunder other than for Good Reason or is terminated by the Company for Cause, the Company shall pay the Executive and provide him with any Accrued Rights under Section 7(a)(i). Upon such termination, (i) the Executive shall not be entitled to receive, and the Company shall have no obligation to provide, any severance payments under this Agreement, (ii) the Executive and his dependents shall not be entitled to receive, the Company shall have no obligation to provide to the Executive or his dependents, any medical, dental, disability or life insurance coverage except as required by COBRA or other applicable law or under the terms of the applicable plans and (iii) all unvested stock options under Section 5 (including, without limitation, Time-Vested Options and Premium Options) shall terminate immediately and shall be of no further force or effect.

Resignation without Good Reason; Termination for Cause. In the event the Executive voluntarily terminates his employment hereunder other than for Good Reason or is terminated by the Company for Cause, the Company shall pay the Executive and provide him with any Accrued Rights under Section 7(a)(i). Upon such termination, (i) the Executive shall not be entitled to receive, and the Company shall have no obligation to provide, any severance payments under this Agreement, (ii) the Executive and his dependents shall not be entitled to receive, the Company shall have no obligation to provide to the Executive or his dependents, any medical, dental, disability or life insurance coverage except as required by COBRA or other applicable law or under the terms of the applicable plans and (iii) all unvested stock options under Section 5 (including, without limitation, Time-Vested Options and Premium Options) Performance Options shall terminate immediately and shall be of no further force or effect.

Resignation without Good Reason; Termination for Cause. In the event the Executive voluntarily terminates his employment hereunder other than for Good Reason or is terminated by the Company for Cause, the Company shall pay the Executive and provide him with any Accrued Rights under Section 7(a)(i). Upon such termination, (i) the Executive shall not be entitled to receive, and the Company shall have no obligation to provide, any severance payments under this Agreement, (ii) the Executive and his dependents shall not be entitled to receive, the Company shall have no obligation to provide to the Executive or his dependents, any medical, dental, disability or life insurance coverage except as required by COBRA or other applicable law or under the terms of the applicable plans and (iii) all unvested stock options under Section 5 (including, without limitation, Time-Vested Options Restricted Shares and Premium Options) shall terminate immediately and Performance Restricted Shares shall be of no further force or effectforfeited.