Common use of Termination or Resignation Clause in Contracts

Termination or Resignation. (a) Executive’s employment with the Company (including, without limitation, Executive’s rights under this Agreement) may only be terminated by the Company during the term for Cause (as defined in Annex I), without Cause or as set forth under Section 7(d) below. (b) In the event the Executive is terminated without Cause, the Executive shall be entitled to receive (i) any amounts earned, accrued or owing but not yet through the date of such termination; and (ii) a lump sum severance payment in an aggregate amount equal to six-months of the Executive’s then-current Base Salary . (c) If (i) Executive resigns at any time for any reason or is terminated by the Company for Cause or (ii) the Parties have failed to extend the Term of this Agreement, the Company shall have liability and obligation under this Agreement for all amounts due and payable to the Executive through the date of such termination or resignation. (d) The Company may terminate the Agreement if the Executive is unable to substantially perform his duties and responsibilities hereunder to the full extent required by the Company by reason of illness, injury or incapacity for more than six (6) months in the aggregate during any period of twelve (12) calendar months. In the event of such termination, the Company shall pay the Executive all amounts due and payable to Executive through the date of such termination. The Executive agrees, in the event of a dispute under this Section 7(d), to submit to a physical examination by a licensed physician selected by the Company and reasonably acceptable to the Executive. The Company agrees that the Executive shall have the right to have his personal physician present at any examination conducted by the physician selected by the Company. (e) The Term shall terminate in the event of the Executive’s death. In such event, the Company shall pay to the Executive’s executors, legal representatives or administrators, as applicable, all amounts due and payable to the Executive through the date of such termination. The Company shall have no further liability or obligation under this Agreement to his executors, legal representatives, administrators, heirs or assigns or any other person claiming under or through him except as otherwise specifically provided in this Agreement.

Termination or Resignation. (a) Executive’s employment with the Company (including, without limitation, Executive’s rights under this Agreement) may only be terminated by the Company during the term for Cause (as defined in Annex I), without Cause ) or as set forth under Section 7(d7(c) below. (b) In the event the Executive is terminated without Cause, the Executive shall be entitled to receive (i) any amounts earned, accrued or owing but not yet through the date of such termination; and (ii) a lump sum severance payment in an aggregate amount equal to six-months of the Executive’s then-current Base Salary . (c) If (i) Executive resigns at any time for any reason or is terminated by the Company for Cause or (ii) the Parties have failed to extend the Term of this Agreement, and so long as Executive shall not have breached any material provision of this Agreement or the Purchase Agreement, the Company shall have liability and obligation under this Agreement for all amounts due and payable to the Executive through the date of such termination or resignation. (dc) The Company may terminate the Agreement if the Executive is unable to substantially perform his duties and responsibilities hereunder to the full extent required by the Company by reason of illness, injury or incapacity for more than six (6) months in the aggregate during any period of twelve (12) calendar months. In the event of such termination, the Company shall pay the Executive all amounts due and payable to Executive through the date of such termination. The Executive agrees, in the event of a dispute under this Section 7(d7(c), to submit to a physical examination by a licensed physician selected by the Company and reasonably acceptable to the Executive. The Company agrees that the Executive shall have the right to have his personal physician present at any examination conducted by the physician selected by the Company. (ed) The Term shall terminate in the event of the Executive’s death. In such event, the Company shall pay to the Executive’s executors, legal representatives or administrators, as applicable, all amounts due and payable to the Executive through the date of such termination. The Company shall have no further liability or obligation under this Agreement to his executors, legal representatives, administrators, heirs or assigns or any other person claiming under or through him except as otherwise specifically provided in this Agreement.

Termination or Resignation. (a) ExecutiveEmployee’s employment with the Company (including, without limitation, ExecutiveEmployee’s rights under this Agreement) may only be terminated by the Company during the term for Cause (as defined in Annex I), without Cause or as set forth under Section 7(d) below. (b) In the event the Executive Employee is terminated without Cause, the Executive Employee shall be entitled to receive (i) any amounts earned, accrued or owing but not yet through the date of such termination; and (ii) a lump sum severance payment in an aggregate amount equal to six-six months of the ExecutiveEmployee’s then-current Base Salary Salary. (c) If (i) Executive Employee resigns at any time for any reason or is terminated by the Company for Cause or (ii) the Parties have failed to extend the Term of this Agreement, the Company shall have liability and obligation under this Agreement for all amounts due and payable to the Executive Employee through the date of such termination or resignation. (d) The Company may terminate the Agreement if the Executive Employee is unable to substantially perform his her duties and responsibilities hereunder to the full extent required by the Company by reason of illness, injury or incapacity for more than six (6) months in the aggregate during any period of twelve (12) calendar months. In the event of such termination, the Company shall pay the Executive Employee all amounts due and payable to Executive Employee through the date of such termination. The Executive Employee agrees, in the event of a dispute under this Section 7(d), to submit to a physical examination by a licensed physician selected by the Company and reasonably acceptable to the ExecutiveEmployee. The Company agrees that the Executive Employee shall have the right to have his her personal physician present at any examination conducted by the physician selected by the Company. (e) The Term shall terminate in the event of the ExecutiveEmployee’s death. In such event, the Company shall pay to the ExecutiveEmployee’s executors, legal representatives or administrators, as applicable, all amounts due and payable to the Executive Employee through the date of such termination. The Company shall have no further liability or obligation under this Agreement to his her executors, legal representatives, administrators, heirs or assigns or any other person claiming under or through him except as otherwise specifically provided in this Agreement.