Common use of Termination Without Compensation Clause in Contracts

Termination Without Compensation. In the event that: (1) Financial Institutions terminates the employment of the Executive for any reason; or (2) the Executive terminates employment with Financial Institutions for any reason, and, in each case, such termination does not entitle the Executive to compensation or benefits under this Agreement or any other arrangement with Financial Institutions (excluding for this purpose, any payments or distributions from or related to any tax-qualified retirement plan maintained for the benefit of the Executive), then the provisions of Section 4.2 and Section 4.3 shall apply to the Executive during the term of this Agreement and during the six-month period following the Executive’s termination of employment.