Common use of Termination; Payment of Accrued Benefits and Severance Clause in Contracts

Termination; Payment of Accrued Benefits and Severance. Notwithstanding anything in this Section 4 to the contrary, Executive may voluntarily terminate Executive’s employment with the Corporation for “Good Reason” (as defined below). In the event Executive’s employment is terminated for Good Reason under this Section 4(f), Executive shall receive the benefits set forth in Section 4(e), subject to the terms and conditions set forth therein, including, without limitation, Executive ‘s execution of a general release in a form and substance satisfactory to the Corporation, upon or within ninety (90) days following the occurrence of an event constituting “Good Reason.” All of the foregoing payments and benefits shall be paid less all applicable federal, state or local taxes and other normal payroll deductions, if any. Except as expressly provided in this Section 4(f), the Corporation shall have no obligation to make any other payment, including severance or other compensation of any kind or payment in lieu of notice, and all other benefits provided by the Corporation to Executive under this Agreement or otherwise shall cease as of Executive’s termination date.