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

Termination With Cause or Without Good Reason. The Company may terminate Executive’s employment at any time with Cause, defined below, by providing the Executive written notice of termination. The Company may place the Executive on paid leave for up to thirty (30) days while it is determining whether there is a basis to terminate the Executive’s employment for Cause, and such leave shall not, in and of itself, give rise to Good Reason, defined below. The Executive may terminate his employment at any time without Good Reason by providing the Company at least thirty (30) days’ notice of resignation. In the event the Company terminates Executive’s employment with Cause or the Executive terminates his employment without Good Reason, the Executive shall be entitled to receive only the Accrued Benefits, defined below.