Common use of Termination by Company Without Cause or by Executive with Good Reason Clause in Contracts

Termination by Company Without Cause or by Executive with Good Reason. If Executive’s employment is terminated by the Company without Cause, or by Executive’s resignation with Good Reason, prior to the end of the Term hereof, then Executive shall be entitled to the Accrued Benefits, and, subject to Executive’s execution (within forty-five (45) days following termination of employment) and non-revocation of a signed release of claims in a form adopted by the Board from time to time (a “Release”), a lump sum separation payment equal to three (3) times Executive’s then-current Base Salary. Amounts due pursuant to the preceding sentence shall be payable to Executive on or before March 15th of the year immediately following the year in which termination of employment occurs.