Common use of Limited Right of Appeal Clause in Contracts

Limited Right of Appeal. If the Executive's Compensation Period is terminated pursuant to Section 6, the Executive may, within fifteen (15) days after mailing of notice thereof to the Executive, submit to the Chief Executive Officer of the Company a written objection to such termination. In such event, the Compensation Committee of the NHC Board at or before its next regularly scheduled meeting must determine by majority vote that termination of the Compensation Period was appropriate or, failing that, the Compensation Period must be reinstated with full retroactive effect.