Common use of Termination Without Cause by Company Clause in Contracts

Termination Without Cause by Company. The Company may at any time, upon ninety (90) days written notice issued in accordance with Section 6.07 hereunder which establishes the date of termination of this Agreement, terminate the Executive’s employment under this Agreement without Cause. The issuance of a notice of termination is a condition precedent to the termination of the employment relationship without Cause by the Company, and the Company shall not issue such a notice of termination unless the issuance of such notice and the contents of such notice are approved by the affirmative vote of a majority of the Company’s Board. Upon termination without cause by the Company, the Executive is entitled to receive from the Company any earned but unpaid salary as well as receive from the Company any unreimbursed expenses or other unpaid benefits owed as of the date of termination. Further, in the event of a termination without cause by the Company, the Executive is entitled to the Severance Compensation and Severance Benefits as defined in Section 5.02 hereunder. During the ninety (90) day notice period, or any such abbreviated period, the Executive shall continue to faithfully and diligently perform all duties assigned to him by the Board.

Termination Without Cause by Company. The Company may at any time, upon ninety thirty (9030) days written notice issued in accordance with Section 6.07 hereunder which establishes the date of termination of this Agreement, terminate the Executive’s employment under this Agreement without Cause. The issuance of a notice of termination is a condition precedent to the termination of the employment relationship without Cause by the Company, and the Company shall not issue such a notice of termination unless the issuance of such notice and the contents of such notice are approved by the affirmative vote of a majority of the Company’s Board. Upon termination without cause by the Company, the Executive is entitled to receive from the Company any earned but unpaid salary as well as receive from the Company any unreimbursed expenses or other unpaid benefits owed as of the date of termination. Further, in the event of a termination without cause by the Company, the Executive is entitled to the Severance Compensation and Severance Benefits as defined in Section 5.02 hereunder. During the ninety thirty (9030) day notice period, or any such abbreviated period, the Executive shall continue to faithfully and diligently perform all duties assigned to him by the Board.