Common use of Termination by the Employer without Cause or by the Executive with Good Reason Clause in Contracts

Termination by the Employer without Cause or by the Executive with Good Reason. If the Employment Period is terminated in accordance with Section 4.01(b)(iii) or Section 4.01(c)(i) of this Agreement, the Employer shall pay the Executive (i) all accrued but unpaid Salary as of the Termination Date plus (ii) an amount equal to $500,000.00 to be paid to the Executive over a period of 12 months from the Termination Date, in accordance with the Employer’s normal payroll practices and schedule(such amount, the “Severance”).

Termination by the Employer without Cause or by the Executive with Good Reason. If the Employment Period is terminated in accordance with Section 4.01(b)(iii) or Section 4.01(c)(i) of this Agreement, the Employer shall pay the Executive (i) all accrued but unpaid the Salary as of and the Termination Date plus (ii) an amount equal to $500,000.00 to be paid to the Executive over Benefits for a period of 12 six months from the Termination Date, in accordance with the Employer’s normal payroll practices and schedule(such amount, the “Severance”)date of termination.

Termination by the Employer without Cause or by the Executive with Good Reason. If the Employment Period is terminated in accordance with Section 4.01(b)(iii) or Section 4.01(c)(i) of this Agreement, the Employer shall pay the Executive the Salary and the Benefits for the lesser of (i) all accrued but unpaid Salary as the remainder of the Termination Date plus Term, or (ii) an amount equal to $500,000.00 to be paid to the Executive over a period of 12 six months from the Termination Datedate of termination. In addition, in accordance Section 6 of this Agreement shall immediately become null and void upon a termination by the Employer without Cause or by the Executive with the Employer’s normal payroll practices and schedule(such amount, the “Severance”)Good Reason.

Termination by the Employer without Cause or by the Executive with Good Reason. If the Employment Period is terminated in accordance with Section 4.01(b)(iii) or Section 4.01(c)(i) of this Agreement, the Employer shall pay the Executive the Salary and the Benefits for the lesser of (i) all accrued but unpaid Salary as the remainder of the Termination Date plus Term, or (ii) an amount equal to $500,000.00 to be paid to the Executive over a period of 12 six months from the Termination Datedate of termination. In addition, in accordance Articles 5 and 6 of this Agreement shall immediately become null and void upon a termination by the Employer without Cause or by the Executive with the Employer’s normal payroll practices and schedule(such amount, the “Severance”)Good Reason.