Common use of By Executive for Reason Clause in Contracts

By Executive for Reason. Executive shall have the right to terminate his employment at any time for "good reason" (herein designated and referred to as "Reason"). The term Reason shall mean (i) the failure to elect or appoint, or re-elect or re-appoint, Executive to, or removal or improperly attempted removal of Executive from, his positions as Chairman of the Board of Directors or Chief Executive Officer or superior positions with the Company, except in connection with the proper termination of Executive's employment by reason of Cause, Death or Disability; (ii) a reduction in Executive's overall compensation other than his discretionary bonus under Section 3(B) above or an adverse change in the nature or scope of the authorities, powers, functions or duties normally attached to the Executive's position with the Company; (iii) the Company's failure or refusal to perform any obligations required to be performed in accordance with this Agreement after a reasonable notice and an opportunity to cure same; and (iv) a Change in Control of the Company, as defined herein, occurs.

By Executive for Reason. Executive shall have the right to terminate his employment at any time for "good reason" (herein designated and referred to as "Reason"). The term Reason shall mean (i) the failure to elect or appoint, or re-elect or re-appoint, Executive to, or removal or improperly attempted removal of Executive from, his positions as Chairman of the Board of Directors President or Chief Executive Financial Officer or superior positions with the Company, except in connection with the proper termination of Executive's employment by reason of Cause, Death or Disability; (ii) a reduction in Executive's overall compensation other than his discretionary bonus under Section 3(B) above or an adverse change in the nature or scope of the authorities, powers, functions or duties normally attached to the Executive's position with the Company; (iii) the Company's failure or refusal to perform any obligations required to be performed in accordance with this Agreement after a reasonable notice and an opportunity to cure same; and (iv) a Change in Control of the Company, as defined herein, occurs.

By Executive for Reason. Executive shall have the right to terminate his employment at any time for "good reason" reason (herein designated and referred to as "Reason"). The term Reason shall mean (i) the failure to elect or appoint, or re-elect or re-appoint, Executive to, or removal or improperly attempted removal of Executive from, his positions as Chairman of the Board of Directors Executive Vice President, Chief Financial Officer, Secretary or Chief Executive Officer or superior positions Treasurer with the Company, except in connection with the proper termination of Executive's employment by reason of Cause, Death or Disability; (ii) a reduction in Executive's overall compensation other than his discretionary bonus under Section 3(B) above or an adverse change in the nature or scope of the authorities, powers, functions or duties normally attached to the Executive's position with the Company; (iii) the Company's failure or refusal to perform any obligations obligation required to be performed in accordance with this Agreement after a reasonable notice and an opportunity to cure same; and or (iv) a Change in Control of the Company, as defined herein, occurs.

By Executive for Reason. Executive shall have the right to terminate his employment at any time for "good reason" reason (herein designated and referred to as "Reason"). The term Reason shall mean (i) the failure to elect or appoint, or re-elect or re-appoint, Executive to, or removal or improperly attempted removal of Executive from, his positions as Chairman of the Board of Directors or Chief Executive Officer or superior positions with the Company, except in connection with the proper termination of Executive's employment by reason of Cause, Death or Disability; (ii) a reduction in Executive's overall compensation other than his discretionary bonus under Section 3(B) above or an adverse change in the nature or scope of the authorities, powers, functions or duties normally attached to the Executive's position with the Company; (iii) the Company's failure or refusal to perform any obligations obligation required to be performed in accordance with this Agreement after a reasonable notice and an opportunity to cure same; and or (iv) a Change in Control of the Company, as defined herein, occurs.

By Executive for Reason. Executive shall have the right to terminate his employment at any time for "good reason" (herein designated and referred to as "Reason"). The term Reason shall mean (i) the failure to elect or appoint, or re-elect or re-appoint, Executive to, or removal or improperly attempted removal of Executive from, his positions as Chairman of the Board of Directors or Chief Executive Officer President or superior positions with the Company, except in connection with the proper termination of Executive's employment by reason of Cause, Death or Disability; (ii) a reduction in Executive's overall compensation other than his discretionary bonus under Section 3(B) above or an adverse change in the nature or scope of the authorities, powers, functions or duties normally attached to the Executive's position with the Company; (iii) the Company's failure or refusal to perform any obligations required to be performed in accordance with this Agreement after a reasonable notice and an opportunity to cure same; and (iv) a Change in Control of the Company, as defined herein, occurs.;

By Executive for Reason. Executive shall have the right to terminate his employment at any time for "good reason" (herein designated and referred to as "Reason"). The term Reason shall mean (i) the failure to elect or appoint, or re-elect or re-appoint, Executive to, or removal or improperly attempted removal of Executive from, his positions as Chairman of the Board of Directors or Chief Executive Operating Officer or superior positions with the Company, except in connection with the proper termination of Executive's employment by reason of Cause, Death or Disability; (ii) a reduction in Executive's overall compensation other than his discretionary bonus under Section 3(B) above or an adverse change in the nature or scope of the authorities, powers, functions or duties normally attached to the Executive's position with the Company; (iii) the Company's failure or refusal to perform any obligations required to be performed in accordance with this Agreement after a reasonable notice and an opportunity to cure same; and (iv) a Change in Control of the Company, as defined herein, occurs.