Common use of By the Director Clause in Contracts

By the Director. The Director 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 Director’s authority, duties and responsibilities, or (2) there is a material reduction in the Director’s annual salary. Upon the Director’s termination of the Employment due to either of the above reasons, the Company shall provide remuneration to the Director equivalent to 6 months of the Director’s base salary that [he/she] is entitled to immediately prior to such termination. In addition, the Director 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.

By the Director. The Director 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 Director’s authority, duties and responsibilities, or (2) there is a material reduction in the Director’s annual salary. Upon the Director’s termination of the Employment due to either of the above reasons, the Company shall provide remuneration compensation to the Director equivalent to 6 12 months of the Director’s base salary that [he/she] he is entitled to immediately prior to such termination. In addition, the Director 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.

By the Director. The Director 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 Director’s authority, duties and responsibilities, or (2) there is a material reduction in the Director’s annual salary. Upon the Director’s termination of the Employment due to either of the above reasons, the Company shall provide remuneration compensation to the Director equivalent to 6 months of the Director’s base salary that [he/she] she is entitled to immediately prior to such termination. In addition, the Director 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.

By the Director. The Director 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 Director’s authority, duties and responsibilities, or (2) there is a material reduction in the Director’s annual salary. Upon the Director’s termination of the Employment due to either of the above reasons, the Company shall provide remuneration to the Director equivalent to 6 months of the Director’s base salary that [he/she] he is entitled to immediately prior to such termination. In addition, the Director 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.

By the Director. The Director 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 Director’s authority, duties and responsibilities, or (2) there is a material reduction in the Director’s annual salary. Upon the Director’s termination of the Employment due to either of the above reasons, the Company shall provide remuneration compensation to the Director equivalent to 6 months of the Director’s base salary that [he/she] is entitled to immediately prior to such termination. In addition, the Director 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.

By the Director. The Director 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 Director’s authority, duties and responsibilities, or (2) there is a material reduction in the Director’s annual salary. Upon the Director’s termination of the Employment due to either of the above reasons, the Company shall provide remuneration to the Director equivalent to 6 months of the Director’s base salary that [he/she] she is entitled to immediately prior to such termination. In addition, the Director 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.