Common use of Termination Without Cause by the Executive Clause in Contracts

Termination Without Cause by the Executive. The Executive may terminate this Agreement without specific Cause or reason upon ninety (90) days written notice to the Company. The Company may at any time, in its sole discretion, shorten or eliminate the ninety (90) day notice period by written notice to the Executive. The Executive shall receive no further salary, other than amounts earned but unpaid, nor benefits of any kind, other than amounts to which the Executive is entitled to reimbursement and those benefits which are vested or otherwise owned by the Executive, following the ninety (90) day notice period, or such abbreviated period to the extent it is shortened or eliminated by the Company as provided above. The Executive shall not be entitled to bonus compensation, pursuant to Section 3.02 of this Agreement, for the year of termination if such termination is by the Executive without Cause. 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.