Common use of Executive's Termination for Good Reason Clause in Contracts

Executive's Termination for Good Reason. To terminate his employment for Good Reason, the Executive must notify the Board of his intent to terminate employment for Good Reason and describe all circumstances that he believes in good faith to constitute Good Reason. If the Company corrects all situations identified by the Executive within 30 days after receiving his notice, the Executive shall not be entitled to terminate for Good Reason. If the Company agrees to the Executive's termination for Good Reason or fails to correct the conditions identified by the Executive within 30 days after receipt of the Executive's notice, the Executive's employment shall terminate on the 30th day after the Company received his notice or such earlier date agreed to by the Company.

Appears in 2 contracts

Samples: Employment Agreement (Flowserve Corp), Employment Agreement (Flowserve Corp)

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Executive's Termination for Good Reason. To terminate his employment for Good Reason, the Executive must notify the Board of his intent to terminate employment for Good Reason and describe all circumstances that he believes in good faith to constitute Good Reason. If the Company corrects all situations constituting Good Reason and identified by the Executive within 30 days after receiving his notice, the Executive shall not be entitled to terminate for Good Reason. If the Company agrees to the Executive's termination for Good Reason or fails to correct the conditions identified by the Executive within 30 days after receipt of the Executive's notice, the Executive's employment shall terminate on the 30th day after the Company received his notice or such earlier date agreed to by the Company.

Appears in 1 contract

Samples: Employment Agreement (Flowserve Corp)

Executive's Termination for Good Reason. To Executive may terminate his employment for Good Reason, Reason (as defined below) by giving the Chief Executive must notify the Board Officer thirty (30) calendar days written notice of his intent to terminate, which notice sets forth in reasonable detail the facts and circumstances claimed to provide a basis for such termination. Executive’s ability to terminate employment for Good Reason and describe all circumstances that he believes in good faith is contingent upon his agreement to constitute allow the Company to remedy within such thirty (30) day period, the events constituting Good Reason. If the Company corrects all situations identified by the Executive within 30 days after receiving his notice, the Executive shall not be entitled to terminate for Good Reason. If the Company agrees to the Executive's a termination for Good Reason or fails to correct occurs, Executive shall receive the conditions identified by benefits set forth in Section 5.1 as if the Executive within 30 days after receipt of the Executive's notice, the Executive's employment shall terminate on the 30th day after the Company received his notice or such earlier date agreed to termination were a termination without Cause by the Company.

Appears in 1 contract

Samples: Employment Agreement (Cara Therapeutics, Inc.)

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Executive's Termination for Good Reason. To terminate his employment for Good Reason, the Executive must notify the Board of his intent to terminate employment for Good Reason and describe all circumstances that he believes in good faith to constitute Good Reason. If the Company corrects all situations constituting Good Reason and identified by the Executive within 30 days after receiving his notice, the Executive shall not be entitled to terminate for Good Reason. If the Company agrees to the Executive's ’s termination for Good Reason or fails to correct the conditions identified by the Executive within 30 days after receipt of the Executive's ’s notice, the Executive's ’s employment shall terminate on the 30th day after the Company received his notice or such earlier date agreed to by the Company.

Appears in 1 contract

Samples: Employment Agreement (Flowserve Corp)

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