Common use of Termination Without Clause in Contracts

Termination Without. “Cause” or With “Good Reason”. Notwithstanding the provisions of Section 3, if Executive’s employment is terminated: (i) by the Company without Cause or (ii) by Executive with Good Reason at any time following the date that the Company enters into a binding written agreement for a transaction that would result in a Change In Control (the “Signing”), Executive shall continue to be eligible to receive all cash retention bonus benefits payable hereunder as if such Executive were employed on the relevant payment date hereunder. Notwithstanding the foregoing, in order to receive the retention payments and benefits under this Section 4, Executive must validly execute and not revoke a signed Release to the Company on or within twenty-one (21) days after Executive’s termination of employment and any payments otherwise due prior to the delivery of the Release shall be paid in a lump sum following delivery of the signed Release.