Common use of Termination of the Employment Period Clause in Contracts

Termination of the Employment Period. The Employment Period shall terminate upon the occurrence of any of the following events: (a) any termination by the Company of the employment of Executive with the Company for any reason other than death, physical or mental incapacity, or (b) the resignation of Executive upon the occurrence of any of the following: (i) a significant change in the nature or scope of Executive's authorities or duties from those described in Section 2; (ii) a reduction in or delay in payment of total compensation from that provided in Section 3, 4 and 5; (iii) the material breach by the Company of any other provision of this Agreement; or (iv) a determination made by Executive, in his sole discretion, that as a result of a Change in Control of the Company and a change in circumstances thereafter affecting his position, he is unable to fully exercise the authorities, powers, functions or duties attached to his or her position and contemplated by Section 2 of this Agreement.