The Exotic Decay Can Be Treated As a Case of Strong Asymmetric Fission or an Exotic Process of Cluster Formation and Tunneling Through the Barrier Making Many Assaults on the Barrier Similar to a Decay. So All Theoretical Attempts Made So Far Originate Either from Garnow Theory of Alpha Decay or Nuclear Fission. Exotic Decay Was First Predicted By Sandulescu Et. Al., In 1980 Based on the Quantum Mechanical Fragmentation Theory (Qmft). In Paper We Gave a Brief Description of Qmft and Details of some Theoretical Models. In Paper an Improved Model Incorporating Ground State Deformation of Both Parent and Daughter, Treating Emitted Cluster As Sphere Is Given and the Effect of Deformation on Half Life Time Is Studied In the Case of Experimentally Observed Decay Modes. We Studied Fine Structure (Decay to Various Excited States of the Daughter) For some Decay Modes and Calculated the Hindrance Factor For the Decay of 223~Bay Emitting 14Cc Luster to Various Excited States of the Daughter.