Common use of Definition of Good Clause in Contracts

Definition of Good. Reason shall mean that after notification of the Company or its successor by Employee of Employee’s intention to resign for Good Reason and a reasonable opportunity for the Company to cure any such alleged defect, the Company persists in any of the following: (i) a significant reduction in Employee’s duties, position, or responsibilities in effect immediately prior to such reduction, (ii) the Company materially reduces Employee’s base salary relative to the salary in effect immediately prior to such reduction; (iii) there is a material reduction by the Company in the kind or level of benefits to which Employee is entitled immediately prior to such reduction with the result that Employee’s overall benefits package is significantly reduced; or (iv) without Employee’s express written consent, Employee’s relocation to a facility or a location more than fifty (50) miles from his then current location.

Definition of Good. Reason shall mean that after notification of the Company or its successor by Employee of Employee’s 's intention to resign for Good Reason and a reasonable opportunity for the Company to cure any such alleged defect, the Company persists in any of the following: (i) a significant reduction in Employee’s 's duties, position, or responsibilities in effect immediately prior to such reduction, (ii) the Company materially reduces Employee’s 's base salary relative to the salary in effect immediately prior to such reduction; (iii) there is a material reduction by the Company in the kind or level of benefits to which Employee is entitled immediately prior to such reduction with the result that Employee’s 's overall benefits package is significantly reduced; or (iv) without Employee’s 's express written consent, Employee’s 's relocation to a facility or a location more than fifty (50) miles from his then current location.