Common use of Termination for Cause or Voluntary Termination Without Good Reason Clause in Contracts

Termination for Cause or Voluntary Termination Without Good Reason. Pending the determination by the Board whether or not Cause exists for termination of Executive's employment pursuant to the definition of Cause in Section 1, the Board may suspend Executive or relieve Executive of his duties as an officer, but may not terminate Executive's employment. Upon such determination that Cause exists, Corporation may terminate Executive's employment. If Corporation terminates Executive's employment for Cause or Executive terminates employment other than for Good Reason, Corporation will pay Executive his Base Salary through the effective date of such termination and, only if Corporation elects, additional compensation equal to one-half of Executive's Base Salary for the period during which Executive is obligated not to compete pursuant to Section 5.7 of this Agreement. This Agreement will terminate as of the Termination Date, and Corporation will have no further obligations to Executive under this Agreement. All accrued benefits to which Executive is then entitled under Plans in which he is a participant will be payable as provided in those Plans.

Termination for Cause or Voluntary Termination Without Good Reason. Pending During the Term of this Agreement, pending the determination by the Board whether or not Cause exists for termination of Executive's employment pursuant to the definition of Cause in Section 1, the Board may suspend Executive or relieve Executive of his duties as an officer, but may not terminate Executive's employment. Upon such determination that Cause exists, Corporation may terminate Executive's employment. If during the Term Corporation terminates Executive's employment for Cause or Executive voluntarily terminates employment other than for Good Reason, Corporation will pay Executive his Base Salary through the effective date of such termination andtermination. Executive will not be entitled to any annual bonus, only if Corporation electsor any prorated portion of any annual bonus, additional compensation equal to one-half of Executive's Base Salary for the period during fiscal year in which Executive is obligated not to compete pursuant to Section 5.7 of this Agreementthe Termination Date occurs. This Agreement will terminate as of the Termination Date, and Corporation will have no further obligations to Executive under this Agreement. All accrued benefits to which Executive is then entitled under Compensation Plans in which he is a participant will be payable as provided in those Compensation Plans.

Termination for Cause or Voluntary Termination Without Good Reason. Pending During the Term of this Agreement, pending the determination by the Board whether or not Cause exists for termination of Executive's employment pursuant to the definition of Cause in Section 1, the Board may suspend Executive or relieve Executive of his duties as an officer, but may not terminate Executive's employment. Upon such determination that Cause exists, Corporation may terminate Executive's employment. If during the Term Corporation terminates Executive's employment for Cause or Executive voluntarily terminates employment other than for Good Reason, Corporation will pay Executive his Base Salary through the effective date of such termination andtermination. Executive will not be entitled to any Annual Bonus, only if Corporation electsor any prorated portion of any Annual Bonus, additional compensation equal to one-half of Executive's Base Salary for the period during fiscal year in which Executive is obligated not to compete pursuant to Section 5.7 of this Agreementthe Termination Date occurs. This Agreement will terminate as of the Termination Date, and Corporation will have no further obligations to Executive under this Agreement. All accrued benefits to which Executive is then entitled under Compensation Plans in which he is a participant will be payable as provided in those Compensation Plans.

Termination for Cause or Voluntary Termination Without Good Reason. Pending DurinG the Term of this Agreement, pending the determination by the Board whether or not Cause exists for termination of Executive's employment pursuant to the definition of Cause in Section 1, the Board may suspend Executive or relieve Executive of his duties as an officer, but may not terminate Executive's employment. Upon such determination that Cause exists, Corporation may terminate Executive's employment. If during the Term Corporation terminates Executive's employment for Cause or Executive voluntarily terminates employment other than for Good Reason, Corporation will pay Executive his Base Salary through the effective date of such termination andtermination. Executive will not be entitled to any Annual Bonus, only if Corporation electsor any prorated portion of any Annual Bonus, additional compensation equal to one-half of Executive's Base Salary for the period during fiscal year in which Executive is obligated not to compete pursuant to Section 5.7 of this Agreementthe Termination Date occurs. This Agreement will terminate as of the Termination Date, and Corporation will have no further obligations to Executive under this Agreement. All accrued benefits to which Executive is then entitled under Compensation Plans in which he is a participant will be payable as provided in those Compensation Plans.