Common use of SPECIAL RIGHT OF EMPLOYEE UNDER CERTAIN CIRCUMSTANCES Clause in Contracts

SPECIAL RIGHT OF EMPLOYEE UNDER CERTAIN CIRCUMSTANCES. During the term of this Agreement, if Meadow Valley Corporation is involved in a merger, consolidation or other business combination in which Meadow Valley Corporation is not the surviving and controlling entity and as a result thereof the Employee is required to relocate outside the city of his/her current residence in a manner not objectively reasonable, then Employee shall have the following rights: A) To terminate this Agreement with 30 days prior notice, in which event Employer shall pay Employee a sum equal to the Employee’s compensation for the remainder of the term of this Agreement, payable within fourteen calendar days of the date of termination; and B) All options granted shall, to the extent not specifically prohibited by the stock option plan then in effect, vest immediately and be exercisable within one year of the termination notice provided in A above. The provisions of this Section 22 shall supercede the entitlements set forth in paragraph 12 Termination in the events contemplated within this Section 22.

SPECIAL RIGHT OF EMPLOYEE UNDER CERTAIN CIRCUMSTANCES. During the term of this Agreement, if Meadow Valley Corporation is involved in a merger, consolidation or other business combination in which Meadow Valley Corporation is not the surviving and controlling entity and as a result thereof the Employee is required to relocate outside the city of his/her current residence in a manner not objectively reasonable, then Employee shall have the following rights: A) To terminate this Agreement with 30 days prior notice, in which event Employer shall pay Employee a lump sum equal to the Employee’s 's compensation for the remainder of the term of this Agreement, payable within fourteen calendar days of the date of termination; and B) All options granted shall, to the extent not specifically prohibited by the stock option plan then in effect, vest immediately and be exercisable within one year of the termination notice provided in A above. The provisions of this Section 22 shall supercede the entitlements set forth in paragraph 12 Termination TERMINATION in the events contemplated within this Section 22.

SPECIAL RIGHT OF EMPLOYEE UNDER CERTAIN CIRCUMSTANCES. During the term of this Agreement, if Meadow Valley Corporation is involved in a merger, consolidation or other business combination in which Meadow Valley Corporation is not the surviving and controlling entity and as a result thereof the Employee is required to relocate outside the city of his/her current residence in a manner not objectively reasonable, then Employee shall have the following rights: A) To terminate this Agreement with 30 days prior notice, in which event Employer shall pay Employee a lump sum equal to the Employee’s compensation for the remainder of the term of this Agreement, payable within fourteen calendar days of the date of termination; and B) All options granted shall, to the extent not specifically prohibited by the stock option plan then in effect2004 Equity Incentive Plan, vest immediately and be exercisable within one year of the termination notice provided in A above. The provisions of this Section 22 shall supercede the entitlements set forth in paragraph 12 Termination in the events contemplated within this Section 22.

SPECIAL RIGHT OF EMPLOYEE UNDER CERTAIN CIRCUMSTANCES. During the term of this Agreement, if Meadow Valley Corporation is involved in a merger, consolidation or other business combination in which Meadow Valley Corporation is not the surviving and controlling entity and as a result thereof the Employee is required to relocate outside the city of his/her current residence in a manner not objectively reasonable, then Employee shall have the following rights: A) To terminate this Agreement with 30 days prior notice, in which event Employer shall pay Employee a sum equal to the Employee’s 's compensation for the remainder of the term of this Agreement, payable within fourteen calendar days of the date of termination; and B) All options granted shall, to the extent not specifically prohibited by the stock option plan then in effect, vest immediately and be exercisable within one year of the termination notice provided in A above. The provisions of this Section 22 shall supercede the entitlements set forth in paragraph 12 Termination TERMINATION in the events contemplated within this Section 22.