Common use of By Executive with Good Reason Clause in Contracts

By Executive with Good Reason. Subject to the cure provisions provided in section 6.06(d), Executive may terminate his employment under this Agreement for Good Reason (as defined below). For purposes of this Agreement, “Good Reason” will be treated as an involuntary separation from service if Sections 6.06(a)-(d) are satisfied: (a) Executive gives the Company thirty (30) days written notice of termination (“Notice of Good Reason”); and (b) One or more of the following conditions occur without the consent of Executive: (i) A material diminution in the Executive’s base compensation; (ii) A material diminution in the Executive’s authority, duties, or responsibilities; (iii) A material change in the geographic location at which the Executive must perform the services that increases the Executive’s home-to-work commuting distance by more than 50 miles; or (iv) Any other action or inaction that constitutes a material breach by the Executive of this Agreement. (c) Executive provides Notice of Good Reason within sixty (60) days of initial existence of one or more of the conditions in Section 6.06(b); and (d) Company does not remedy the condition within thirty (30) days.

By Executive with Good Reason. Subject to the cure provisions provided in section 6.06(d), Executive may terminate his employment under this Agreement for Good Reason (as defined below). For purposes of this Agreement, “Good Reason” will be treated as an involuntary separation from service if Sections 6.06(a)-(d) are satisfied: (a) Executive gives the Company thirty (30) days written notice of termination (“Notice of Good Reason”); and (b) One or more of the following conditions occur without the consent of Executive: (i) A material diminution in the Executive’s base compensation; (ii) A material diminution in the Executive’s authority, duties, or responsibilities; (iii) A material diminution in the budget over which the Executive retains authority; (iv) A material change in the geographic location at which the Executive must perform the services that increases the Executive’s home-to-work commuting distance by more than 50 miles; or (ivv) Any other action or inaction that constitutes a material breach by the Executive of this Agreement. (c) Executive provides Notice of Good Reason within sixty (60) days of initial existence of one or more of the conditions in Section 6.06(b); and (d) Company does not remedy the condition within thirty (30) days.