Executive’s Resignation for Good Reason. Executive may resign his employment for Good Reason so long as Executive tenders his resignation to the Company within sixty (60) days after the occurrence of the event which forms the basis for his termination for Good Reason. If Executive terminates his employment for Good Reason, Executive shall be eligible for severance benefits as set forth in Section 4.2 of Exhibit A, attached hereto.
Executive’s Resignation for Good Reason. If Executive terminates his employment with the Company for Good Reason, the Company shall provide to Executive, within thirty (30) days after the Effective Date of the Release attached hereto as Exhibit B (as “Effective Date” is defined in the Release), as the only severance compensation and benefits, the same severance compensation and benefits provided in Section 4.1 hereof.
Executive’s Resignation for Good Reason. After a Change of Control, the Executive may terminate his employment for Good Reason in accordance with Section 5.6. For purposes hereof, “Good Reason” shall mean, without the Executive’s consent: (i) the assignment to the Executive of any duties inconsistent in any material respect with the Executive’s position (including status, offices, duties and reporting relationships), authority, duties or responsibilities as contemplated by Section 1 hereof, or any other action by the Company which results in a significant diminution in such position, authority, duties, or responsibilities, excluding any isolated and inadvertent action not taken in bad faith and which is remedied by the Company within ten (10) days after receipt of notice thereof from the Executive; (ii) any failure by the Company to comply with any of the provisions of Section 3 hereof other than an isolated and inadvertent failure not committed in bad faith and which is remedied by the Company within ten (10) days after receipt of notice thereof from the Executive; (iii) the Executive’s being required to relocate to a principal place of employment more than fifty (50) miles from his principal place of employment with the Company as of the Effective Date or (iv) delivery by the Company of a notice discontinuing the automatic extension provision of Section 2 hereof.
Executive’s Resignation for Good Reason. Executive may resign his employment for Good Reason so long as Executive tenders his resignation to the Company within sixty (60) days after the occurrence of the event which forms the basis for his termination for Good Reason. If Executive terminates his employment for Good Reason, Executive shall be eligible for severance benefits as set forth in Section 4.2 of Exhibit A, attached hereto.
(a) Definition of “Good Reason.” For purposes of this Agreement, “Good Reason” shall mean any one of the following events which occurs on or after the Effective Date: (i) any material reduction of the Executive’s then existing annual base salary, except to the extent the annual base salary of all other executive officers of the Company is similarly reduced (provided such reduction does not exceed fifteen percent (15%) of Executive’s then existing annual base salary); (ii) any material reduction in the package of benefits and incentives, taken as a whole, provided to the Executive (except that employee contributions may be raised to the extent of any cost increases imposed by third parties) or any action by the Company which would materially and adversely affect the Executive’s participation or reduce the Executive’s benefits under any such plans, except to the extent that such benefits and incentives of all other executive officers of the Company are similarly reduced; (iii) any material diminution of the Executive’s duties and responsibilities, taken as a whole, excluding for this purpose (A) a diminution of duties and responsibilities that occurs as a consequence of a restructuring of the Company’s business, or (B) an isolated, insubstantial or inadvertent action not taken in bad faith which is remedied by the Company immediately after notice thereof is given by the Executive; (iv) following a Change of Control, any diminution of the Executive’s duties, responsibilities, authority, reporting structure, titles or offices, excluding for this purpose an isolated, insubstantial or inadvertent action not taken in bad faith which is remedied by the Company immediately after notice thereof is given by the Executive; (v) any material breach by the Company of its obligations under this Agreement; (vi) any failure by the Company to obtain the assumption of this Agreement by any successor or assign of the Company; or (vii) any requirement that the Executive relocate to a work site that would increase the Executive’s one-way commute distance by more than thirty-five (35) miles fr...
Executive’s Resignation for Good Reason. Executive may resign his employment for Good Reason so long as Executive tenders his resignation to Solexa within one hundred and twenty (120) days after Executive learns of the occurrence of the event which forms the basis for his termination for Good Reason. Except as provided under Section 6.2 of this Agreement, if Executive terminates his employment for Good Reason, Executive shall be entitled to the same severance benefits as set forth in Section 5.3 above. In the event of Executive’s termination/resignation for Good Reason, severance benefits under Section 5.3(a) or Section 6.2(a)(i), shall be based on Executive’s base salary immediately prior to any reduction that constitutes Good Reason under Section 5.6(a)(ii).
Executive’s Resignation for Good Reason. Executive may resign his employment for Good Reason so long as Executive tenders his resignation in writing to the Company in accordance with the time frames set forth in Section 4.2(a) above. In the event that Executive resigns his employment for Good Reason (i) Executive will be eligible to receive the Initial Severance Benefits if the resignation is effective prior to the Merger Anniversary, and (ii) Executive will be eligible to receive the Subsequent Severance Benefits if the resignation is effective on or after the Merger Anniversary; provided, however, that in either situation, Executive’s obligation to sign and provide an effective general release of claims, in a form acceptable to the Company, has been satisfied.
Executive’s Resignation for Good Reason. For purposes of this Agreement, “Good Reason” will mean that Executive resigns his employment within the Contract Term as result of: (i) a material diminution in the Executive’s base compensation; (ii) a material diminution in the Executive’s authority, duties, or responsibilities; (iii) a change in geographic location at which the Executive must perform the services to any location outside Nevada; or (iv) any other action or inaction that constitutes a material breach of the terms of this Agreement. Notwithstanding the foregoing, in no event shall such resignation constitute “Good Reason” unless and until Executive provides written notice to the chairman of the Board of Directors of the existence of the good reason condition, which notice must be within 90 days of its initial existence, and Executive provides the Company with at least 30 days to remedy the good reason condition. If the condition is not remedied, the Executive must terminate his employment within sixty (60) days following the expiration of such remedy period for the termination to be on account of a “Good Reason.” If Executive resigns for Good Reason, he will receive the Severance Benefits.
Executive’s Resignation for Good Reason. “Good Reason,” as used In this Agreement, shall mean the resignation of Executive from employment by the Company after any of the following events:
(a) a reduction in his Base Salary, Annual Bonus or benefits;
(b) a diminution of his duties, responsibilities or reporting responsibility as President and Chief Operating Officer of the Company;
(c) a breach by the Company of any provision of this Agreement, provided that the Executive must first give the Company written notice of the breach and 30 days to cure the breach; or
(d) a requirement that Executive spend more than 50% of his business hours at a location other than Executive’s principal office set forth in Section 1.
Executive’s Resignation for Good Reason. If the Executive wishes to resign for Good Reason, then:
(A) Within Fourteen (14) days following the occurrence of a Good Reason Event, the Executive must provide written notice to the Company specifying both the basis of such breach and expressly stating what remedial action is required to cure such breach.
(B) If, within Thirty (30) days after the Company’s receipt of such written notice, the Company cures such alleged breach, then such occurrence will cease to constitute a Good Reason Event.
(C) If, within Thirty (30) days after the Company’s receipt of such written notice, the Company fails to cure such alleged breach, then the Executive’s resignation for Good Reason will take effect on the first business day following the expiry of such cure period, on which date the Executive’s employment shall be deemed to have been terminated without Cause within the meaning of Section 4(b)(ii).
Executive’s Resignation for Good Reason. Executive may resign his employment for Good Reason (as defined below) so long as Executive tenders his resignation to the Company within thirty (30) days after the occurrence of the event which forms the basis for his resignation for Good Reason. In the event that Executive resigns his employment for Good Reason, (i) the Company shall make a lump sum severance payment to Executive in an amount equal to six (6) months of the Executive’s then current base salary, subject to applicable withholdings and deductions, (ii) if you timely elect COBRA health insurance coverage, the Company will reimburse your COBRA premiums for a maximum of either six (6) months following the date your employment terminates or until you secure health insurance coverage from another source, whichever occurs sooner, and (iii) the vesting of the Option shall immediately accelerate with respect to the number of shares that would otherwise vest if the Executive was to remain employed by the Company over the six (6) month period following the date of such termination. Executive shall not be entitled to any of this severance pay unless and until the release requirements set forth in Section 8 of this Agreement are satisfied.
