By the CEO. The CEO may terminate the Employment at any time with a one-month prior written notice to the Company, if (1) there is a material reduction in the CEO’s authority, duties and responsibilities, or (2) there is a material reduction in the CEO’s annual salary. Upon the CEO’s termination of the Employment due to either of the above reasons, the Company shall provide compensation to the CEO equivalent to 12 months of the CEO’s base salary that he is entitled to immediately prior to such termination. In addition, the CEO may resign prior to the expiration of the Agreement if such resignation is approved by the Board or an alternative arrangement with respect to the Employment is agreed to by the Board.
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Samples: Employment Agreement (Qilian International Holding Group LTD), Employment Agreement (Urban Tea, Inc.), Employment Agreement (Color Star Technology Co., Ltd.)
By the CEO. The CEO may terminate the Employment at any time with a one-month prior written notice to the Company, if (1) there is a material reduction in the CEO’s authority, duties and responsibilities, or (2) there is a material reduction in the CEO’s annual salary. Upon the CEO’s termination of the Employment due to either of the above reasons, the Company shall provide compensation to the CEO equivalent to 12 months of the CEO’s base salary that he she is entitled to immediately prior to such termination. In addition, the CEO may resign prior to the expiration of the Agreement if such resignation is approved by the Board or an alternative arrangement with respect to the Employment is agreed to by the Board.
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