Common use of Termination Without Good Cause Clause in Contracts

Termination Without Good Cause. (i) If the Employer shall terminate the employment of the Employee Without Good Cause effective on a date earlier than the termination date provided for in Section 2, the Employee shall continue to receive the Base Salary; provided that, notwithstanding such termination of employment, the Employee’s covenants set forth in Section 10 and Section 11 are intended to and shall remain in full force and effect. (ii) The parties agree that, because there can be no exact measure of the damage that would occur to the Employee as a result of a termination by the Employer of the Employee’s employment Without Good Cause, the payments and benefits paid and provided pursuant to this Section 8(c) shall be deemed to constitute liquidated damages and not a penalty for the Employer’s termination of the Employee’s employment Without Good Cause, and the Employer agrees that the Employee shall not be required to mitigate Employee’s damages; provided, however, if he does mitigate, Employer shall be entitled to an offset against the liquidated damages for all sums received by Employee by virtue of the mitigation.