Common use of Upon Good Reason Clause in Contracts

Upon Good Reason. Employee shall have “Good Reason” to terminate this Agreement: (i) if Employee is located in the corporate office and within 30 days of receiving written notice from the Company that Employee’s work location is being shifted to a location more than 50 miles away from Employee’s current work location, Employee provides in writing an objection to such relocation and of Employee’s intention to treat such requirement as “Good Reason” and the Company does not within 30 days of such notice rescind such requirement, (This clause does not apply to employees working out of satellite offices or a home. If Employee works out of a satellite offices or a home his/her location may be changed and such change shall not be “Good Reason” under this Agreement.); or (ii) if Employee provides in writing within 30 days of receiving written notice from the Company that the Company intends to reduce his/her Base Salary then in effect so that following such reduction his/her Base Salary is 95% or less of the highest Base Salary payable to Employee hereunder, notice of Employee’s intention to treat such diminution as “Good Reason”, and the Company does not within 30 days of such notice rescind such diminution.

Upon Good Reason. Employee shall have “Good Reason” to terminate this Agreement: (i) if Employee is located in the corporate office and within 30 days of receiving written notice from the Company that Employee’s work location is being shifted to a location more than 50 miles away from Employee’s current work location, Employee provides in writing an objection to such relocation and of Employee’s intention to treat such requirement as “Good Reason” and the Company does not within 30 days of such notice rescind such requirement, (This clause does not apply to employees working out of satellite offices or a home. If Employee works out of a satellite offices or a home his/her location may be changed and such change shall not be “Good Reason” under this Agreement.); or (ii) if Employee provides in writing within 30 days of receiving written notice from the Company that the Company intends to reduce his/her Base Salary then in effect so that following such reduction his/her Base Salary it is 95reduced by 5% or less of the highest Base Salary payable to Employee hereundermore, notice of Employee’s intention to treat such diminution as “Good Reason”, and the Company does not within 30 days of such notice rescind such diminution.