Common use of Involuntary Termination and Resignation for Good Reason Clause in Contracts

Involuntary Termination and Resignation for Good Reason. Employee's employment may be terminated (a) by Innovex for other than Good Cause, effective upon the date specified in Innovex's written notice of termination to Employee, (b) by Innovex for Good Cause, effective upon Employee's receipt of Innovex's written notice of termination, or (c) by the Employee for Good Reason, effective upon the Board's receipt of Employee's written notice of termination, which shall include a detailed explanation as to why he believes Good Reason exists. If Employee's employment is terminated for other than Good Cause or for Good Reason under this 5.2 and the termination is not related to a Change in Control, base salary and the employer share of Employee's Innovex group health and dental premiums will continue to be paid for 12 months from Employee's termination date, subject to 5.6, 5.7 and Employee's other obligations hereunder. In addition, if the Employee's termination occurs partway through a fiscal year, the Board may award a prorated bonus to Employee if (i) Employee would have received a bonus if he had remained in Innovex's employ for the full fiscal year and (ii) the Board determines that Employee's contribution to Innovex prior to his termination date warrants a prorated bonus award. Only the benefits described in this 5.2 will be payable to Employee during the severance period. Termination for other than Good Cause shall include non-Good Cause termination due to performance issues and any other non-Good Cause termination not described in 5.3, 5.4 or 5.5. If the Employee's termination is for Good Cause, his base salary and benefits will be paid only through his termination date.

Involuntary Termination and Resignation for Good Reason. Employee's employment may be terminated (a) by Innovex for other than Good Cause, effective upon the date specified in Innovex's written notice of termination to Employee, (b) by Innovex for Good Cause, effective upon Employee's receipt of Innovex's written notice of termination, or (c) by the Employee for Good Reason, effective upon the Board's receipt of Employee's written notice of termination, which shall include a detailed explanation as to why he believes Good Reason exists; provided, however, that prior to such notice, Employee had provided written notice to the Board within 90 days of the occurrence of an event constituting Good Reason, and Innovex had failed to cure any breach (if capable of cure) within a reasonable period of time, not to exceed 10 days from the date of the initial notice. If Employee's employment is terminated for other than Good Cause or for Good Reason under this 5.2 and the termination is not related to a Change in Control, base salary and the employer share of Employee's Innovex group health and dental premiums will continue to be paid for 12 months from Employee's termination date, subject to 5.6, 5.7 and Employee's other obligations hereunder. In addition, if the Employee's termination occurs partway through a fiscal year, the Board may award a prorated bonus to Employee if (i) Employee would have received a bonus if he had remained in Innovex's employ for the full fiscal year and (ii) the Board determines that Employee's contribution to Innovex prior to his termination date warrants a prorated bonus award. Only the benefits described in this 5.2 will be payable to Employee during the severance period. Termination for other than Good Cause shall include non-Good Cause termination due to performance issues and any other non-Good Cause termination not described in 5.3, 5.4 or 5.5. If the Employee's termination is for Good Cause, his base salary and benefits will be paid only through his termination date.

Involuntary Termination and Resignation for Good Reason. Employee's ’s employment may be terminated (a) by Innovex for other than Good Cause, effective upon the date specified in Innovex's ’s written notice of termination to Employee, (b) by Innovex for Good Cause, effective upon Employee's ’s receipt of Innovex's ’s written notice of termination, or (c) by the Employee for Good Reason, effective upon the Board's ’s receipt of Employee's ’s written notice of termination, which shall include a detailed explanation as to why he believes Good Reason exists. If Employee's ’s employment is terminated for other than Good Cause or for Good Reason under this 5.2 and the termination is not related to a Change in Control, base salary and the employer share of Employee's ’s Innovex group health and dental premiums will continue to be paid for 12 months from Employee's ’s termination date, subject to 5.6, 5.7 and Employee's ’s other obligations hereunder. In addition, if the Employee's ’s termination occurs partway through a fiscal year, the Board may award a prorated bonus to Employee if (i) Employee would have received a bonus if he had remained in Innovex's ’s employ for the full fiscal year and (ii) the Board determines that Employee's ’s contribution to Innovex prior to his termination date warrants a prorated bonus award. Only the benefits described in this 5.2 will be payable to Employee during the severance period. Termination for other than Good Cause shall include non-Good Cause termination due to performance issues and any other non-Good Cause termination not described in 5.3, 5.4 or 5.5. If the Employee's ’s termination is for Good Cause, his base salary and benefits will be paid only through his termination date.