Common use of By Executive Clause in Contracts

By Executive. Upon the occurrence of any of the following events, this Agreement may be terminated by the Executive by written notice to Employer: 1. if Employer makes a general assignment for the benefit of creditors, files a voluntary bankruptcy petition, files a petition or answer seeking a reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any law, or there shall have been filed any petition or application for the involuntary bankruptcy of Employer, or other similar proceeding, in which an order for relief is entered or which remains undismissed for a period of thirty days or more, or Employer seeks, consents to, or acquiesces in the appointment of a trustee, receiver, or liquidator of Employer or any material part of its assets; 2. the sale by Employer of substantially all of its assets; 3. a decision by Employer to terminate its business and liquidate its assets.

By Executive. Upon the occurrence of any of the following events, this Agreement may be terminated by the Executive by written notice to Employer: (1. ) if Employer makes a general assignment for the benefit of creditors, files a voluntary bankruptcy petition, files a petition or answer seeking a reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any law, or there shall have been filed any petition or application for the involuntary bankruptcy of Employer, or other similar proceeding, in which an order for relief is entered or which remains undismissed for a period of thirty days or more, or Employer seeks, consents to, or acquiesces in the appointment of a trustee, receiver, or liquidator of Employer or any material part of its assets; (2. ) the sale by Employer of substantially all of its assetsassets or a change of control of over 50% of Employer; (3. ) a decision by Employer Employer, approved by the Board to terminate its business and liquidate its assets.

By Executive. Upon the occurrence of any of the following events, this Agreement may be terminated by the Executive by written notice to Employer: (1. ) if Employer makes a general assignment for the benefit of creditors, files a voluntary bankruptcy petition, files a petition or answer seeking a reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any law, or there shall have been filed any petition or application for the involuntary bankruptcy of Employer, or other similar proceeding, in which an order for relief is entered or which remains undismissed for a period of thirty days or more, or Employer seeks, consents to, or acquiesces in the appointment of a trustee, receiver, or liquidator of Employer or any material part of its assets; (2. ) the sale by Employer of substantially all of its assets; (3. ) a decision by Employer to terminate its business and liquidate its assets.

By Executive. Upon the occurrence of any of the following events, this Agreement may be terminated by the Executive by written notice to Employer: (1. ) if Employer makes a general assignment for the benefit of creditors, files a voluntary bankruptcy petition, files a petition or answer seeking a reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any law, or there shall have been filed any petition or application for the involuntary bankruptcy of Employer, or other similar proceeding, in which an order for relief is entered or which remains undismissed for a period of thirty days or more, or Employer seeks, consents to, or acquiesces in the appointment of a trustee, receiver, or liquidator of Employer or any material part of its assets;; or (2. ) the sale by Employer of substantially all of its assets;; or (3. ) a decision by Employer to terminate its business and liquidate its assets; or (4) a material change in Executive's duties without the consent of Executive.

By Executive. Upon the occurrence of any of the following events, this Agreement may be terminated by the Executive by written notice to Employer: 1. if Employer makes a general assignment for the benefit of creditors, files a voluntary bankruptcy petition, files a petition or answer seeking a reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any law, or there shall have been filed any petition or application for the involuntary bankruptcy of Employer, or other similar proceeding, in which an order for relief is entered or which remains undismissed un-dismissed for a period of thirty days or more, or Employer seeks, consents to, or acquiesces in the appointment of a trustee, receiver, or liquidator of Employer or any material part of its assets; 2. the sale by Employer of substantially all of its assets;; or 3. a decision by Employer to terminate its business and liquidate its assets.

By Executive. Upon the occurrence of any of the following events, this Agreement may be terminated by the Executive by written notice to Employer: (1. ) if Employer makes a general assignment for the benefit of creditors, files a voluntary bankruptcy petition, files a petition or answer seeking a reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any law, or there shall have been filed any petition or application for the involuntary bankruptcy of Employer, or other similar proceeding, in which an order for relief is entered or which remains undismissed for a period of thirty days or more, or Employer seeks, consents to, or acquiesces in the appointment of a trustee, receiver, or liquidator of Employer or any material part of its assets; (2. ) the sale by Employer of substantially all of its assets; (3. ) a decision by Employer to terminate its business and liquidate its assets. If Employee terminates this Agreement for the reasons stated in Section 5.1.1 (2), the Executive will be paid a severance amount equal to one times his base salary. This severance amount is in addition to any salary due and payable through the Date of Termination.

By Executive. Upon the occurrence of any of the following events, this Agreement may be terminated by the Executive by written notice to Employer: 1. if Employer makes a general assignment for the benefit of creditors, files a voluntary bankruptcy petition, files a petition or answer seeking a reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any law, or there shall have been filed any petition or application for the involuntary bankruptcy of Employer, or other similar proceeding, in which an order for relief is entered or which remains undismissed for a period of thirty days or more, or Employer seeks, consents to, or acquiesces in the appointment of a trustee, receiver, or liquidator of Employer or any material part of its assets; 2. the sale by Employer of substantially all of its assets;; or 3. a decision by Employer to terminate its business and liquidate its assets.

By Executive. Upon the occurrence of any of the following events, this Agreement may be terminated by the Executive by written notice to Employer: (1. ) if Employer makes a general assignment for the benefit of creditors, files a voluntary bankruptcy petition, files a petition or answer seeking a reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any law, or there shall have been filed any petition or application for the involuntary bankruptcy of Employer, or other similar proceeding, in which an order for relief is entered or which remains undismissed for a period of thirty days or more, or Employer seeks, consents to, or acquiesces in the appointment of a trustee, receiver, or liquidator of Employer or any material part of its assets; (2. ) the sale by Employer of substantially all of its assets; (3. ) a decision by Employer to terminate its business and liquidate its assets. If Employee terminates this Agreement for the reasons stated in Section 5.1.1 (2), the Executive will be paid a severance amount equal to one times his base annual salary. This severance amount is in addition to any salary due and payable through the Date of Termination.