Common use of REQUIRED RELOCATION Clause in Contracts

REQUIRED RELOCATION. 5.1. During the Term, the Corporation shall not require the Employee to relocate outside of the New York City/New Jersey metropolitan area (the "Area"). 5.2. In the event that prior to the end of the Term, or after the Term of this Agreement if the Employee continues to be employed by the Corporation on an at will basis, the Corporation requires the Employee to relocate outside the Area and the Employee elects in his discretion, not to do so, the Employee may voluntarily terminate his employment with the Corporation and in such event the Corporation shall pay to the Employee (i) the base salary being paid to the Employee at the date of termination until the end of the Term; (ii) all benefits described in Sections 4.2 and 9; and (iii) the Severance Benefits described in Section 6. 5.3. Notwithstanding the foregoing, the Employee may be required to travel away from his home for reasonable periods of time in fulfillment of his responsibilities for the Corporation.

REQUIRED RELOCATION. 5.1. During the Term, the Corporation shall not require the Employee to relocate outside of the New York City/New Jersey metropolitan area (the "Area"). 5.2. In the event that prior to the end of the Term, or after the Term of this Agreement if the Employee continues to be employed by the Corporation on an at will basis, the Corporation requires the Employee to relocate outside the Area and the Employee elects in his discretion, not to do so, the Employee may voluntarily terminate his employment with the Corporation and in such event the Corporation shall pay to the Employee (i) an amount equal to the aggregate base salary being paid to the Employee at the date of termination, from the date of such termination until the end of the Term, which amount shall be payable in a lump sum on the date of such termination; (ii) continuation of all benefits described in Sections 4.2 and 99 until the end of the Term; and (iii) the Severance Benefits described in Section 6. 5.3. Notwithstanding the foregoing, the Employee may be required to travel away from his home for reasonable periods of time in fulfillment of his responsibilities for the Corporation.

REQUIRED RELOCATION. 5.1. During the Term, the Corporation shall not require the Employee to relocate outside of the New York City/New Jersey metropolitan area (the "“Area"”). 5.2. In the event that prior to the end of the Term, or after the Term of this Agreement if the Employee continues to be employed by the Corporation on an at will basis, the Corporation requires the Employee to relocate outside the Area and the Employee elects in his discretion, not to do so, the Employee may voluntarily terminate his employment with the Corporation and in such event the Corporation shall pay to the Employee (i) an amount equal to $300,000 less the base salary being aggregate Base Salary and Bonus paid pursuant to Section 4.2 paid to the Employee at from July 1, 2007 through the date of termination until termination, which amount shall be payable in a lump sum on the end date of the Termsuch termination; (ii) continuation of all benefits described in Sections 4.2 and 99 until the end of the Term; and (iii) the Severance Benefits described in Section 6. 5.3. Notwithstanding the foregoing, the Employee may be required to travel away from his home for reasonable periods of time in fulfillment of his responsibilities for the Corporation.

REQUIRED RELOCATION. 5.1. During the Term, the Corporation shall not require the Employee to relocate outside of the New York City/New Jersey metropolitan area (the "Area"). 5.2. In the event that prior to the end of the Term, or after the Term of this Agreement if the Employee continues to be employed by the Corporation on an at will basis, the Corporation requires the Employee to relocate outside the Area and the Employee elects in his discretion, not to do so, the Employee may voluntarily terminate his employment with the Corporation and in such event the Corporation shall pay to the Employee (i) an amount equal to $300,000 less the base salary being aggregate Base Salary and Bonus paid pursuant to Section 4.2 paid to the Employee at from July 1, 2006 through the date of termination until termination, which amount shall be payable in a lump sum on the end date of the Termsuch termination; (ii) continuation of all benefits described in Sections 4.2 and 99 until the end of the Term; and (iii) the Severance Benefits described in Section 6. 5.3. Notwithstanding the foregoing, the Employee may be required to travel away from his home for reasonable periods of time in fulfillment of his responsibilities for the Corporation.