Common use of Executive’s Right to Terminate Clause in Contracts

Executive’s Right to Terminate. Notwithstanding the provisions of paragraph 2.1, Executive shall have the right to terminate his employment under this Agreement for any of the following reasons: (i) within 60 days of and in connection with or based upon (A) a material breach by Company of any material provision of this Agreement, (B) a material reduction in title of the Executive set forth in paragraph 1.2 without Executive’s consent to such reduction or (C) any requirement that Executive relocate in violation of paragraph 1.6 (each referred to hereinafter as “Good Reason”); provided, however, that, prior to Executive’s termination of employment under this paragraph 2.3(i), Executive must give written notice to Company of any such breach, reduction or requirement and such breach, reduction or requirement must remain uncorrected for 20 days following such written notice; (ii) at any time after there is a Change in Control (as such term is defined in paragraph 6.1); or (iii) at any time for any other reason whatsoever, in the sole discretion of Executive.

Appears in 13 contracts

Samples: Employment Agreement (Superior Offshore International Inc.), Employment Agreement (Superior Offshore International Inc.), Employment Agreement (Superior Offshore International Inc.)

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Executive’s Right to Terminate. Notwithstanding the provisions of paragraph 2.1, Executive shall have the right to terminate his employment under this Agreement for any of the following reasons: (i) within 60 days of and in connection with or based upon (A) a material breach by Company of any material provision of this Agreement, (B) a an overall substantial and material reduction in title the nature or scope of the Executive set forth in paragraph 1.2 without Executive’s consent to such reduction 's duties and responsibilities, or (C) any requirement the assignment to Executive of duties and responsibilities that Executive relocate in violation of paragraph 1.6 (each are materially inconsistent with the positions referred to hereinafter as “Good Reason”)in paragraph 1.2; provided, however, that, prior to Executive’s 's termination of employment under this paragraph 2.3(i), Executive must give written notice to Company of any such breach, reduction or requirement assignment and such breach, reduction or requirement assignment must remain uncorrected for 20 30 days following such written notice; (ii) at any time after there is a Change in Control (as such term is defined in paragraph 6.1); or (iiiii) at any time for any other reason whatsoever, in the sole discretion of Executive.

Appears in 1 contract

Samples: Employment Agreement (Snyder Oil Corp)

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Executive’s Right to Terminate. Notwithstanding the provisions of paragraph 2.1, Executive shall have the right to terminate his employment under this Agreement for any of the following reasons: (i) within 60 days of and in connection with or based upon (A) a material breach by Company of any material provision of this Agreement, (B) a an overall substantial and material reduction in title the nature or scope of the Executive set forth in paragraph 1.2 without Executive’s consent to such reduction 's duties and responsibilities, or (C) any requirement the assignment to Executive of duties and responsibilities that Executive relocate in violation of paragraph 1.6 (each are materially inconsistent with the positions referred to hereinafter as “Good Reason”)in paragraph 1.2; provided, however, that, prior to Executive’s 's termination of employment under this paragraph 2.3(i), Executive must give written notice to Company of any such breach, reduction or requirement assignment and such breach, reduction or requirement assignment must remain uncorrected for 20 30 days following such written notice;; or (ii) at any time after there is a Change in Control (as such term is defined in paragraph 6.1); or (iii) at any time for any other reason whatsoever, in the sole discretion of Executive.

Appears in 1 contract

Samples: Employment Agreement (Seven Seas Petroleum Inc)

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