Common use of Termination With Cause or Without Good Reason Clause in Contracts

Termination With Cause or Without Good Reason. If the Company terminates Executive's employment for Cause (pursuant to Section 3(a)(i)) or in the event Executive voluntarily terminates his employment without Good Reason (pursuant to Section 3(a)(vi)), Executive shall be entitled to his Annual Base Salary through the date of the termination of such employment and Executive shall be entitled to any bonuses which have been earned but not paid prior to such termination. Executive shall not be entitled to any other bonuses. Executive's additional benefits specified in Section 2 shall terminate at the time of such termination and the entire outstanding balance (principal and interest) of any loans from the Company to Executive shall be due and owing on date of such termination. Any amounts owed by Executive to the Company hereunder shall be set off against any amounts payable from the Company to the Executive.