Common use of Termination by the Employer for Good Reason Clause in Contracts

Termination by the Employer for Good Reason. If (i) Executive is terminated for Good Reason or (ii) Executive shall voluntarily terminate his employment hereunder (other than pursuant to Section 7(b) hereof), then the Employment Period shall terminate as of the effective date set forth in the written notice of such termination (the "Termination Date") and Executive shall be entitled to receive only his Base Salary at the rate then in effect until the Termination Date and any outstanding stock options held by Executive shall expire in accordance with the terms of the stock option plan or option agreement under which the stock options were granted.