Common use of Requirements for Termination Clause in Contracts

Requirements for Termination. (i) Executive may not terminate the Term and Executive’s employment for Good Reason pursuant to Section 7(b)(i), Section 7(b)(ii), Section 7(b)(iii) or Section 7(b)(iv), unless (x) the Executive, within thirty (30) days following the occurrence of the such condition giving rise to Good Reason, notifies the Company in writing of his intent to terminate with Good Reason; (y) the Company fails to cure such condition within thirty (30) days after being so notified; and (z) the Executive actually terminates no later than thirty (30) days after the end of such thirty (30)-day cure period. (ii) Solely in the case of an event of Cause described in Section 7(a)(i), Section 7(a)(ii) or Section 7(a)(vi), (each, a “Cause Capable of Cure”), the Company may not and shall not terminate the Term and Executive’s employment for Cause unless the Company has provided written notice to Executive of the existence of the circumstances providing grounds for termination for a Cause Capable of Cure, and Executive has had at least fourteen (14) calendar days from the date on which such notice is provided to cure such circumstances to the reasonable satisfaction of the Company and has thereafter not cured such circumstance within such fourteen (14) calendar day period.

Requirements for Termination. (i) Executive may not terminate the Term and Executive’s employment for Good Reason pursuant to Section 7(b)(i), Section 7(b)(ii), Section 7(b)(iii) or Section 7(b)(iv), unless (x) the Executive, within thirty (30) days following the occurrence of the such condition giving rise to Good Reason, notifies the Company in writing of his her intent to terminate with Good Reason; (y) the Company fails to cure such condition within thirty (30) days after being so notified; and (z) the Executive actually terminates no later than thirty (30) days after the end of such thirty (30)-day cure period. (ii) Solely in the case of an event of Cause described in Section 7(a)(i), Section 7(a)(ii) or Section 7(a)(vi), (each, a “Cause Capable of Cure”), the Company may not and shall not terminate the Term and Executive’s employment for Cause unless the Company has provided written notice to Executive of the existence of the circumstances providing grounds for termination for a Cause Capable of Cure, and Executive has had at least fourteen (14) calendar days from the date on which such notice is provided to cure such circumstances to the reasonable satisfaction of the Company and has thereafter not cured such circumstance within such fourteen (14) calendar day period.