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

Termination of Employment Without Cause or for Good Reason. Except as otherwise provided by Section 7 with respect to certain terminations of employment in connection with a Change of Control, if the Executive’s employment terminates in a Qualifying Termination, then, subject to his execution and nonrevocation of a release of all claims arising out of Executive’s employment or the termination thereof (“Release”) on or prior to the 30th day following the Qualifying Termination, commencing with the first standard payroll date occurring on or after the 30th day following the date of the Qualifying Termination, the Company shall pay to Executive an amount equal in total to six (6) times the monthly amount of Executive’s Base Salary in effect on the date of the Qualifying Termination in six monthly installments.