Common use of Termination of Employment During Term Clause in Contracts

Termination of Employment During Term. Except as provided in Section 8 hereof, the Company will provide or cause to be provided to the Executive the rights and benefits described in Section 5 hereof in the event that the Executive's employment by the Company is terminated at any time during the Term or in connection with a Change in Control either: (a) by the Company; or (b) by the Executive following the occurrence of any of the following events without the Executive's consent: (i) The Executive is assigned substantial duties or responsibilities that are materially inconsistent with the Executive's position, duties, responsibilities or status during the twelve-month period immediately prior to the commencement of the Term; (ii) The Executive's base compensation is reduced or the Executive experiences in any year a reduction in the ratio of the Executive's incentive compensation payment to the Executive's base compensation in such year which is greater than the average reduction in the ratio of incentive compensation payments to base compensation in such year experienced by all of the Company's other salaried officers; or (iii) The Executive is transferred to a location (other than Albuquerque, New Mexico) which is an unreasonable distance from the Executive's current principal work location.

Termination of Employment During Term. Except as provided in Section 8 hereof, the Company will provide or cause to be provided to the Executive the rights and benefits described in Section 5 hereof in the event that the Executive's ’s employment by the Company is terminated at any time during the Term or in connection with a Change in Control either: (a) by the Company; or (b) by the Executive following the occurrence of any of the following events without the Executive's ’s consent: (i) The Executive is assigned substantial duties or responsibilities that are materially inconsistent with the Executive's ’s position, duties, responsibilities or status during the twelve-month period immediately prior to the commencement of the Term; (ii) The Executive's ’s base compensation is reduced or the Executive experiences in any year a reduction in the ratio of the Executive's ’s incentive compensation payment to the Executive's ’s base compensation in such year which is greater than the average reduction in the ratio of incentive compensation payments to base compensation in such year experienced by all of the Company's ’s other salaried officers; or (iii) The Executive is transferred to a location (other than Albuquerque, New Mexico) which is an unreasonable distance from the Executive's ’s current principal work location.