TERMINATION OF AGREEMENT BY EXECUTIVE. Executive may terminate this Agreement and his employment with the Company without Good Reason upon thirty (30) days prior written notice to the Company. Executive may be required to perform his job duties and will be paid his regular salary up to the date of the termination. At the option of the Company, the Company may require Executive to terminate employment upon receiving said thirty (30) days' notice from Executive of the termination of this Agreement. In such event, the Company will pay to Executive an amount equal to thirty (30) calendar days of his base salary. Executive will not be entitled to receive any other compensation or severance allowance under this Agreement.
TERMINATION OF AGREEMENT BY EXECUTIVE. Executive may terminate this Agreement at any time, with or without Cause, upon thirty (30) days notice to the President and CEO. In the event of termination by the Executive, the Executive shall only be entitled to compensation through the last day actually worked.
TERMINATION OF AGREEMENT BY EXECUTIVE. Upon termination by EXECUTIVE, EXECUTIVE shall be entitled to:
TERMINATION OF AGREEMENT BY EXECUTIVE. EXECUTIVE may terminate this AGREEMENT (a) if the COMPANY materially changes EXECUTIVE's duties or authority as provided in this AGREEMENT, including assignment to duties materially inconsistent with those set forth herein, material reduction in EXECUTIVE's duties or authority, or material interference by the Board of Directors which adversely affects EXECUTIVE 's ability to perform his duties hereunder, (b) if the COMPANY materially breaches this AGREEMENT, including, without limitation, reducing EXECUTIVE's then current Salary or failing to make any Salary or bonus payment when due and owing or (c) upon ninety (90) days' advance notice.
TERMINATION OF AGREEMENT BY EXECUTIVE. During the Retention Period, Executive shall be deemed to have terminated this Agreement if the Executive voluntarily incurs a Termination of Employment.
TERMINATION OF AGREEMENT BY EXECUTIVE. 1. Executive may terminate this Agreement only for the following Good Reasons: (a) material reduction in duties or responsibilities; and (b) DCL’s material change in the location of the DCL office where Executive works (e.g., not relocation to another location in the Washington D.C. metropolitan area) (“Good Reason”) provided however, that Executive must provide DCL with written notice of the existence of the change constituting Good Reason within thirty-five (35) days of any such event having occurred, and allow DCL thirty (30) days to cure the same. If DCL so cures the change, Executive shall not have a basis for terminating his/her employment for Good Reason with respect to such cured change. In addition, in the event a change occurs that triggers Executive’s right to terminate this Agreement for Good Reason, Executive must exercise such right in writing to terminate this Agreement for Good Reason within thirty-five (35) days of the effective date of the applicable change, or such right shall be deemed waived.
TERMINATION OF AGREEMENT BY EXECUTIVE. This Agreement may be terminated at any time by Executive upon six months written notice to Bank. b)
TERMINATION OF AGREEMENT BY EXECUTIVE. Executive may terminate this Agreement at any time upon six months prior written notice to the board of directors of the Company. If this Agreement is terminated pursuant to this Section 2.3, Executive shall be entitled to only his salary plus accrued vacation pay through the date of such termination, and the Company shall have no further obligations to Executive.
TERMINATION OF AGREEMENT BY EXECUTIVE. Executive may terminate this Agreement and his employment with the Company without cause upon thirty (30) days' prior written notice to the Company. In such a case, Executive may be required to perform his business duties and will be paid his regular salary up to the date of the termination. At the option of the Company, the Company may require Executive to depart from the Company on the date the Company receives thirty (30) days' notice from Executive of the termination of this Agreement, in which case any compensation or benefits described in Section 3 of this Agreement shall automatically terminate and be forfeited by Executive (except for vested stock options).
TERMINATION OF AGREEMENT BY EXECUTIVE. 1. Executive shall have “Good Reason” to terminate his employment hereunder upon the occurrence of any of the following: (a) the demotion of Executive or a material reduction in his duties, responsibilities or authority; (b) DCL’s material change in the location of the DCL office where Executive works (e.g., not relocation to another location in New York, New York; (c) a material breach of this Agreement by DCL; (d) a Change of Control of DCL where the successor does not assume this Agreement; (e) a reduction in base salary or target bonus opportunity; (f) a change on the Plan which reduces Executive’s potential benefits thereunder, and (g) a change in the position to whom Executive reports. In the event a change occurs that triggers Executive’s right to terminate this Agreement for Good Reason, Executive must exercise such right in writing to terminate this Agreement for Good Reason within sixty (60) days of the date of the applicable change, so such right shall be deemed waived. A Change in Control shall be deemed to occur upon (i) the dissolution, liquidation or sale of all or substantially all of the assets of DCL; (ii) a merger or consolidation in which the DCL is not the surviving corporation; (iii) a reverse merger in which DCL is the surviving corporation but the shares of DCL’s common stock immediately preceding the merger are converted by virtue of the merger into other property; (iv) the consummation of a transaction or series of transaction (other than an offering of stock to the general public through a registration statement filed with the Securities and Exchange Commission) whereby any “person” or related “group” of “persons” (as such terms are used in Sections 13(d) and 14(d)(2) of the Exchange Act) other than DCL, any of its subsidiaries, an employee benefit plan maintained by DCL or any of its subsidiaries or a “person” that, prior to such transaction, directly or indirectly controls, is controlled by, or is under common control with, DCL) directly or indirectly acquires beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act) of securities of DCL possessing more than 50% of the total combined voting power of DCL’s securities outstanding immediately after such acquisition; or (v) the sale or other disposition of all or substantially all the assets of DCL.
