Common use of TERMINATION FOR CAUSE OR BY EXECUTIVE Clause in Contracts

TERMINATION FOR CAUSE OR BY EXECUTIVE. If the Employment Term is terminated by the Company for Cause under section 4(a) of this Agreement, or if the Employment Term is terminated by the Executive under section 4(e) of this Agreement, the Company shall have no further liability under this Agreement except to pay Executive (i) the value of any accrued salary or other compensation due to Executive as of the effective date of such termination, and (ii) any benefit payable under the employee benefit plans, programs and arrangements of the Company in which Executive is a participant on the date of delivery of the Notice of Termination.