Common use of Termination of Employment by the Executive Clause in Contracts

Termination of Employment by the Executive. 17.1 The Executive shall have the right to terminate his employment at any time for Good Reason by immediate notice if, following submission of the written notice by the Executive to the Company detailing the events alleged to constitute Good Reason in accordance with this Clause, the Company shall have failed to cure such events within the 30 day period following submission of such notice. For purposes of this Agreement, “Good Reason” shall mean (i) a reduction in the Executive’s annual base salary or annual bonus opportunity, or the failure to pay or provide the same when due, (ii) a material diminution in the Executive’s duties, authority, responsibilities or title, or the assignment to the Executive of duties or responsibilities which are materially inconsistent with his positions, (iii) the removal of the Executive from the position described in Clause 2, (iv) a material change in reporting line (the appointment of a senior executive between the Executive and the CEO would not be considered a material change), (v) the Company’s requiring the Executive to be based at any office or location more than fifty (50) miles from the Executive’s office as of the date hereof or (vi) any other fundamental breach of this Agreement; provided, however, that no such event(s) shall constitute “Good Reason” unless the Company shall have failed to cure such event(s) within 30 days after receipt by the Company from the Executive of written notice describing in detail such event(s).

Termination of Employment by the Executive. 17.1 The Executive shall have the right to terminate his employment at any time for Good Reason by immediate notice if, following submission of the written notice by the Executive to the Company detailing the events alleged to constitute Good Reason in accordance with this Clause, the Company shall have failed to cure such events within the 30 day period following submission of such notice. For purposes of this Agreement, “Good Reason” shall mean (i) a reduction in the Executive’s annual base salary or annual bonus opportunity, or the failure to pay or provide the same when due, (ii) a material diminution in the Executive’s duties, authority, responsibilities or title, or the assignment to the Executive of duties or responsibilities which are materially inconsistent with his positions, (iii) the removal of the Executive from the position described in Clause 2, (iv) a material change in the Executive’s reporting line (the appointment of a senior executive between the Executive and the CEO would not be considered a material change), line; (v) the Company’s requiring the Executive to be based at any office or location more than fifty (50) miles from the Executive’s office as of the date hereof or (vi) any other fundamental breach of this Agreement; provided, however, that no such event(s) shall constitute “Good Reason” unless the Company shall have failed to cure such event(s) within 30 days after receipt by the Company from the Executive of written notice describing in detail such event(s).

Termination of Employment by the Executive. 17.1 18.1 The Executive shall have the right to terminate his employment at any time for Good Reason by immediate notice if, following submission of the written notice by the Executive to the Company detailing the events alleged to constitute Good Reason in accordance with this Clause, the Company shall have failed to cure such events within the 30 day period following submission of such notice. For purposes of this Agreement, “"Good Reason” " shall mean (i) a reduction in the Executive’s 's annual base salary or annual bonus opportunity, or the failure to pay or provide the same when due, (ii) a material diminution in the Executive’s 's duties, authority, responsibilities or title, or the assignment to the Executive of duties or responsibilities which are materially inconsistent with his positions, (iii) the removal of the Executive from the position described in Clause 23, (iv) a material an adverse change in the Executive's reporting line (the appointment of a senior executive between the Executive and the CEO would not be considered a material change)relationship, or (v) the Company’s 's requiring the Executive to be based at any office or location more than fifty (50) miles from the Executive’s 's office as of the date hereof or (vi) any other fundamental breach of this Agreementhereof; provided, however, that no such event(s) shall constitute “"Good Reason” " unless the Company shall have failed to cure such event(s) within 30 days after receipt by the Company from the Executive of written notice describing in detail such event(s).

Termination of Employment by the Executive. 17.1 18.1 The Executive shall have the right to terminate his employment at any time for Good Reason by immediate notice if, following submission of the written notice by the Executive to the Company detailing the events alleged to constitute Good Reason in accordance with this Clause, the Company shall have failed to cure such events within the 30 day period following submission of such notice. For purposes of this Agreement, “"Good Reason” " shall mean (i) a reduction in the Executive’s 's annual base salary or annual bonus opportunity, or the failure to pay or provide the same when due, (ii) a material diminution in the Executive’s 's duties, authority, responsibilities or title, or the assignment to the Executive of duties or responsibilities which are materially inconsistent with his positions, (iii) the removal failure to elect or reelect the Executive to any of the Executive from the position positions described in Clause 23 or the removal of him from any such position, (iv) a material an adverse change in the Executive's reporting line (the appointment of a senior executive between the Executive and the CEO would not be considered a material change)relationship, or (v) the Company’s 's requiring the Executive to be based at any office or location more than fifty (50) miles from the Executive’s 's office as of the date hereof or (vi) any other fundamental breach of this Agreementhereof; provided, however, that no such event(s) shall constitute “"Good Reason” " unless the Company shall have failed to cure such event(s) within 30 days after receipt by the Company from the Executive of written notice describing in detail such event(s).