Common use of Cause or Other Than For Good Reason Clause in Contracts

Cause or Other Than For Good Reason. If the Executive’s employment is terminated by the Company for Cause during the Employment Period, Taubman will provide to the Executive, or cause one of the Affiliated Companies to provide to Executive, in a lump sum in cash within 30 days of the Date of Termination: (1) the Executive’s Annual Base Salary through the Date of Termination; (2) the amount of any compensation previously deferred by the Executive and that is not considered to be deferred compensation subject to Code Section 409A; (3) any accrued vacation pay; (4) the Executive’s business expenses that are reimbursable pursuant to Section 3(b)(5) but have not been reimbursed by the Company as of the Date of Termination; and (5) the Other Benefits, in each case, to the extent theretofore unpaid, and will have no other severance obligations under this Agreement. If the Executive voluntarily terminates employment during the Employment Period, excluding a termination for Good Reason, Taubman will provide to the Executive, or cause one of the Affiliated Companies to provide to the Executive, the Accrued Obligations, and the timely payment or delivery of Other Benefits, and will have no other severance obligations under this Agreement. In such case, all the Accrued Obligations will be paid to the Executive in a lump sum in cash within 30 days of the Date of Termination.

Cause or Other Than For Good Reason. If the Executive’s employment is terminated by the Company for Cause during the Employment Period, Taubman will provide to the Executive, or cause one of the Affiliated Companies to provide to Executive, in a lump sum in cash within 30 days of the Date of Termination: (1) the Executive’s Annual Base Salary through the Date of Termination; (2) the amount of any compensation previously deferred by the Executive and that is not considered to be deferred compensation subject to Code Section 409AExecutive; (3) any accrued vacation pay; (4) the Executive’s business expenses that are reimbursable pursuant to Section 3(b)(5) but have not been reimbursed by the Company as of the Date of Termination; and (5) the Other Benefits, in each case, to the extent theretofore unpaid, and will have no other severance obligations under this Agreement. If the Executive voluntarily terminates employment during the Employment Period, excluding a termination for Good Reason, Taubman will provide to the Executive, or cause one of the Affiliated Companies to provide to the Executive, the Accrued Obligations, and the timely payment or delivery of Other Benefits, and will have no other severance obligations under this Agreement. In such case, all the Accrued Obligations will be paid to the Executive in a lump sum in cash within 30 days of the Date of Termination.