Common use of RELOCATION OF HEADQUARTERS/DIRECTED RESIGNATION NOT VOLUNTARY RESIGNATION Clause in Contracts

RELOCATION OF HEADQUARTERS/DIRECTED RESIGNATION NOT VOLUNTARY RESIGNATION. For purposes of this Agreement, the term “voluntary resignation” shall not include any situation where: (1) Employee terminates his employment with the Company within 60 days after the Company (A) relocates the Corporate headquarters more than 20 miles from Moorpark, California or (B) requires Employee to physically report for his employment duties more than 20 miles from Moorpark, California; or (2) Employee resigns pursuant to a direct request of the CEO or the Board. A termination or resignation under such circumstances shall be treated as an involuntary termination without Cause, and Employee’s entitlement to severance pay and additional benefits in accordance with the provisions of Sections 3.3(a), 3.3(b) and 3.3(c) below shall apply unless, and only if, such termination was for Cause.

RELOCATION OF HEADQUARTERS/DIRECTED RESIGNATION NOT VOLUNTARY RESIGNATION. For purposes of this Agreement, the term “voluntary resignation” shall not include any situation where: (1) Employee terminates his employment with the Company within 60 days after the Company (A) relocates the Corporate headquarters more than 20 miles from Moorpark, California or (B) requires Employee to physically report for his employment duties more than 20 miles from Moorpark, California; or (2) Employee resigns pursuant to a direct request of the CEO or the Board. A termination or resignation under such circumstances shall be treated as an involuntary termination without Cause, and Employee’s entitlement to severance pay and additional benefits in accordance with the provisions of Sections 3.3(a), 3.3(b) and 3.3(c) below shall apply unless, and only if, such termination was for Cause.