By the Employee With Good Reason. The Employee may resign from employment with Good Reason by giving written notice to the Company. If the Employee resigns under this Section 10(d), then such resignation shall be treated as a termination by the Company pursuant to Section 10(b). “Good Reason” shall mean the occurrence of any of the following events, without the Employee’s consent, (i) a material failure by the Company to pay any compensation owed to the Employee, (ii) a material reduction in the Employee’s base salary or target bonus percentage, (iii) a material diminution in the Employee’s responsibilities or authority, or (iv) the voluntary resignation of Xxxxxx X. Xxxxxx as Chief Executive Officer during the period between 90 and 365 days following the occurrence of a Change of Control. Notwithstanding the foregoing, occurrence of the events described in (i) through (iii) above only shall constitute Good Reason if (A) the Employee provides the Company written notice within sixty (60) days following the occurrence of an event that allegedly constitutes Good Reason; (B) the Company fails to substantially cure such event within thirty (30) days after receiving such notice; and (C) the Employee resigns within thirty (30) days following such failure to cure. In connection with a resignation for Good Reason on account of a Xx. Xxxxxx’x resignation following a Change of Control (i.e., (iv) above), such resignation shall be deemed to be for Good Reason only where such resignation occurs during the 90-day period commencing on the date of Xx. Xxxxxx’x resignation.
By the Employee With Good Reason. The Employee may terminate his employment with Good Reason in accordance with this clause 8.4. “Good Reason” shall mean: (a) a material diminution in the Employee’s authority, duties, and responsibilities as General Counsel (not including his role as Corporate Secretary, which may be changed by GLG at its discretion without triggering this clause 8.4), other than as permitted in clause 8.8; (b) a material diminution in the authority, duties, and responsibilities of the Co-Chief Executive Officers of GLG (who are the individuals to whom the Employee reports); (c) a material change in the location from which the Employee must perform his services for GLG, including a requirement that he relocate to London, England; or (d) a material breach of this Agreement by GLG. Notwithstanding the foregoing, no action or inaction will be deemed to constitute “Good Reason” unless: (i) the Employee gives reasonably-detailed, written notice to GLG of the action or inaction alleged to constitute “Good Reason” no later than ninety (90) days after the initial existence of the action or inaction alleged to constitute “Good Reason”; (ii) GLG is provided with thirty (30) days in which it may cure any action or inaction that would otherwise constitute “Good Reason”; and (iii) GLG fails to cure such action or inaction during the thirty-day cure period, in which case the Employee’s employment will be deemed to have terminated upon the expiration of such cure period unless the parties hereto agree in writing to a different termination date. In the event of a termination of the Employee’s employment with Good Reason, GLG will pay the Employee in a lump-sum, within thirty (30) of his employment termination date, the amounts set forth in clauses (a), (b), (c), and (d) of clause 8.2, except that the references to “fifty percent (50%)” in clauses (c) and (d) will be replaced with references to “one hundred percent (100%)”.
By the Employee With Good Reason. The Employee may terminate his employment with Good Reason in accordance with this clause 8.4 and Exhibit A. In the event of a termination of the Employee’s employment with Good Reason, GLG will pay the Employee, subject to clauses 8.6 and 8.10, in a lump sum on the thirtieth (30th) day following of his employment termination date, the amounts set forth in clauses (a), (b), (c), and (d) of clause 8.2, except that the references to “fifty percent (50%)” in clauses (c) and (d) will be replaced with references to “one hundred percent (100%)”.
By the Employee With Good Reason. The Employee may terminate the Employee’s employment under this Agreement for “Good Reason.” For purposes of this Agreement, “Good Reason” shall mean the occurrence of any of the following conditions (collectively, the “Good Reason Conditions”) arising without the Employee’s written consent: (i) a material diminution of the Employee’s responsibilities, duties or authorities as the Company’s Chief Executive Officer, as compared to his responsibilities, duties and authorities on the date hereof, (ii) a change in the location of his principal office of more than fifty (50) miles from 0000 Xxxxxxx Xxxxxx, Xxxxxx, Xxxx 00000, or (iii) a material breach of this Agreement by the Company. In the event of the occurrence of any Good Reason Condition, the Employee shall provide to the Company written notice of the existence of the Good Reason Condition within a period not to exceed 90 days of its initial existence. The Company shall have a period of not less than 45 days during which it may remedy the Good Reason Condition. Employee must terminate for Good Reason within six months of the initial existence of the Good Reason Condition.
By the Employee With Good Reason. (i) The Employee may voluntarily terminate his employment for “Good Reason” by notifying the Company in writing, within ninety (90) days after the initial existence of one of the events below, that the Employee intends to terminate his employment for Good Reason, and, if such Good Reason is not cured in accordance with the cure provision set forth below, the Employee must actually terminate employment no later than thirty (30) days following the initial notice of existence of such Good Reason. “
