Common use of Voluntary Resignation or Termination for Cause Clause in Contracts

Voluntary Resignation or Termination for Cause. If Executive terminates his employment with the Company on his own initiative (other than for Good Reason), or is terminated by the Company for “Cause” as described in Section 7(b), or his employment terminates under Section 7(e), this Agreement and his employment shall terminate without any further payments by the Company, including, without limitation, severance and/or COBRA premiums, but not including any accrued but unpaid salary and any accrued but unused vacation (including without limitation any vacation that has previously been carried over pursuant to Section 5.2 of this Agreement), all of which shall be immediately paid in full, and all stock options and other stock rights heretofore or herein granted to Executive shall cease vesting as of the date of termination in accordance with the provisions of the applicable stock option or other agreement. Notwithstanding the foregoing, payment of any accrued but unused vacation shall be subject to the provisions of Sections 17 and 18, if applicable at the time of such termination.

Voluntary Resignation or Termination for Cause. If Executive terminates his employment with the Company on his own initiative (other than for Good Reason), or is terminated by the Company for “Cause” as described in Section 7(b), or his employment terminates under Section 7(e)7.2, this Agreement and his employment shall terminate without any further payments by the Company, including, without limitation, severance and/or COBRA premiums, but not including any accrued but unpaid salary and any accrued but unused vacation (including without limitation any vacation that has previously been carried over pursuant to Section 5.2 of this Agreement), all of which shall be immediately paid in full, and all stock options and other stock rights heretofore or herein granted to Executive shall cease vesting as of the date of termination in accordance with the provisions of the applicable stock option or other agreement. Notwithstanding the foregoing, payment of any accrued but unused vacation shall be subject to the provisions of Sections 17 and 18, if applicable at the time of such termination.