Common use of Resignation by Employee for Good Reason Clause in Contracts

Resignation by Employee for Good Reason. Employee may resign for Good Reason upon 30 calendar days’ written notice. If Employee resigns for Good Reason, the Company will pay to Employee his then current Salary for eighteen months from the Termination Date, subject to Section 2.7(g) below. Such Salary will be paid as and at such times as Employee would have otherwise received his Salary had he remained an employee of the Company, subject to Section 2.7(g) below. In addition, if Employee resigns for Good Reason, the Company will pay to Employee accrued but unpaid Salary through the Termination Date and all unreimbursed expenses incurred by Employee prior to such termination for which Employee is entitled to reimbursement pursuant to Section 2.5(c), which payments will become due and payable in cash in a lump sum on the Termination Date. The payments to be made in accordance with this Section 2.7(e) will constitute liquidated damages payable as a result of Employee’s resignation for Good Reason and Employee will not be entitled to any other compensation from the Company under this Agreement or otherwise except as provided in this Section 2.7(e).