Common use of Termination of Chief Executive Officer Clause in Contracts

Termination of Chief Executive Officer. If, at any time prior -------------------------------------- to the first anniversary of the date of this Agreement, (a) Xxxxxx Xxxxxxxxxx'x employment as Chief Executive Officer of the Company is terminated by the Company without Cause or by Xx. Xxxxxxxxxx for Good Reason (as such terms are defined in the Stock Option Agreement dated the date hereof between the Company and Xx. Xxxxxxxxxx) and (b) within 60 days following such termination, the Shareholder elects to terminate his employment with the Company, the Shareholder shall be entitled to receive severance benefits in an amount equal to the severance benefits the Shareholder was entitled to receive pursuant to the Company plans in effect at the effective time of the Merger in the event of a Change of Control (as defined in any such plan) and the Shareholder's termination of his employment for Good Reason (as defined in any such plan).