Common use of VOLUNTARY TERMINATION BY THE EXECUTIVE WITH GOOD REASON Clause in Contracts

VOLUNTARY TERMINATION BY THE EXECUTIVE WITH GOOD REASON. In the event that the Executive terminates his employment with Good Reason as defined below in this Section 4.4, the Executive will be entitled to receive the Severance Benefits set forth in Section 4.7 hereof and, if he qualifies therefor, the Severance Pay set forth in Section 4.8 hereof. For purposes of this Agreement, an Executive shall be deemed to have terminated his employment for "Good Reason" if his termination of employment occurs: a. within four (4) months after a Change in Control; b. within four (4) months after: i. the Board of Directors of the Company shall fail to re-elect or shall remove the Executive from the office of Chief Executive Officer; ii. the Board of Directors of the Company shall make a significant negative change in the nature or scope of the authorities, powers, functions or duties of the Executive hereunder; iii. the Company shall fail to pay when due any compensation due and owing to the Executive or shall make a reduction in the Executive's then current base salary or a material reduction in his benefits and such failure is not corrected within ten (10) days after notice thereof to the Company by the Executive; iv. any pattern of harassment which occurs within the first twelve (12) months after the execution of this Agreement, which is done with the approval of the Board of Directors of the Company and which impedes the Executive in the exercise of his authorities, powers, functions or duties hereunder in the manner in which they would normally be exercised by a Chief Executive Officer; or v. the Board of Directors of the Company has given the Executive written notice of its intention not to renew this Agreement. In the event that the Executive shall terminate his employment with Good Reason, he shall provide the Company with sixty (60) days advance notice of his date of termination of employment.

VOLUNTARY TERMINATION BY THE EXECUTIVE WITH GOOD REASON. In the event that the Executive terminates his employment with Good Reason as defined below in this Section 4.4, the Executive will be entitled to receive the Severance Benefits set forth in Section 4.7 hereof and, if he qualifies therefor, the Severance Pay set forth in Section 4.8 hereof. For purposes of this Agreement, an Executive shall be deemed to have terminated his employment for "Good Reason" if his termination of employment occurs: a. within four (4) months after a Change in Control; b. within four (4) months after: i. the Board of Directors of the Company shall fail to re-elect or shall remove the Executive from the office of Chief Executive Officerthen being held by the Executive; ii. the Chief Executive Officer or the Board of Directors of the Company shall make a significant negative change in the nature or scope of the authorities, powers, functions or duties of the Executive hereunder; iii. the Company shall fail to pay when due any compensation due and owing to the Executive or shall make a reduction in the Executive's then current base salary or a material reduction in his benefits and such failure is not corrected within ten (10) days after notice thereof to the Company by the Executive;; or iv. any pattern of harassment which occurs within the first twelve (12) months after the execution of this Agreement, which is done with the approval of the Chief Executive Officer or the Board of Directors of the Company and which impedes the Executive in the exercise of his authorities, powers, functions or duties hereunder in the manner in which they would normally be exercised by a Chief Executive Officer; or v. the Board of Directors of the Company has given the Executive written notice of its intention not to renew this Agreementsimilar officer. In the event that the Executive shall terminate his employment with Good Reason, he shall provide the Company with sixty (60) days advance notice of his date of termination of employment.

VOLUNTARY TERMINATION BY THE EXECUTIVE WITH GOOD REASON. In the event that the Executive terminates his employment with Good Reason as defined below in this Section 4.4, the Executive will be entitled to receive the Severance Benefits set forth in Section 4.7 hereof and, if he qualifies therefor, the Severance Pay set forth in Section 4.8 hereof. For purposes of this Agreement, an Executive shall be deemed to have terminated his employment for "Good Reason" if his termination of employment occurs: a. within four (4) months after a Change in Control; b. within four (4) months after: i. the Board of Directors of the Company shall fail to elect or re-elect or shall remove the Executive from the office of Chief Executive OfficerChairman of the Board of Directors; ii. the Board of Directors of the Company shall make a significant negative change in the nature or scope of the authorities, powers, functions or duties of the Executive hereunder; iii. the Company shall fail to pay when due any compensation due and owing to the Executive or shall make a reduction in the Executive's then current base salary or a material reduction in his benefits and such failure is not corrected within ten (10) days after notice thereof to the Company by the Executive; iv. any pattern of harassment which occurs within the first twelve (12) months after the execution of this Agreement, which is done with the approval of the Board of Directors of the Company and which impedes the Executive in the exercise of his authorities, powers, functions or duties hereunder in the manner in which they would normally be exercised by a Chief Executive OfficerChairman of the Board of Directors; or v. the Board of Directors of the Company has given the Executive written notice of its intention not to renew this Agreement. In the event that the Executive shall terminate his employment with Good Reason, he shall provide the Company with sixty (60) days advance notice of his date of termination of employment.

VOLUNTARY TERMINATION BY THE EXECUTIVE WITH GOOD REASON. In the event that the Executive terminates his her employment with Good Reason as defined below in this Section 4.4, the Executive will be entitled to receive the Severance Benefits set forth in Section 4.7 hereof and, if he she qualifies therefor, the Severance Pay set forth in Section 4.8 hereof. For purposes of this Agreement, an Executive shall be deemed to have terminated his her employment for "Good Reason" if his her termination of employment occurs: a. within four (4) months after a Change in Control; b. within four (4) months after: i. the Board of Directors of the Company shall fail to re-elect or shall remove the Executive from the office of Chief Executive Officerthen being held by the Executive; ii. the Chief Executive Officer or the Board of Directors of the Company shall make a significant negative change in the nature or scope of the authorities, powers, functions or duties of the Executive hereunder; iii. the Company shall fail to pay when due any compensation due and owing to the Executive or shall make a reduction in the Executive's then current base salary or a material reduction in his her benefits and such failure is not corrected within ten (10) days after notice thereof to the Company by the Executive;; or iv. any pattern of harassment which occurs within the first twelve (12) months after the execution of this Agreement, which is done with the approval of the Chief Executive Officer or the Board of Directors of the Company and which impedes the Executive in the exercise of his her authorities, powers, functions or duties hereunder in the manner in which they would normally be exercised by a Chief Executive Officer; or v. the Board of Directors of the Company has given the Executive written notice of its intention not to renew this Agreementsimilar officer. In the event that the Executive shall terminate his her employment with Good Reason, he she shall provide the Company with sixty (60) days advance notice of his her date of termination of employment.

VOLUNTARY TERMINATION BY THE EXECUTIVE WITH GOOD REASON. In the event that the Executive terminates his employment with Good Reason as defined below in this Section 4.4, the Executive will be entitled to receive the Severance Benefits set forth in Section 4.7 hereof and, if he qualifies therefor, the Severance Pay set forth in Section 4.8 hereof. For purposes of this Agreement, an Executive shall be deemed to have terminated his employment for "Good Reason" if his termination of employment occurs: a. within four (4) months after a Change in Control; b. within four (4) months after: i. the Board of Directors of the Company shall fail to re-elect or shall remove the Executive from the office of Chief Executive Officerthen being held by the Executive; ii. the Chief Executive Officer or the Board of Directors of the Company shall make a significant negative change in the nature or scope of the authorities, powers, functions or duties of the Executive hereunder; iii. the Company shall fail to pay when due any compensation due and owing to the Executive or shall make a reduction in the Executive's then current base salary or a material reduction in his benefits and such failure is not corrected within ten (10) days after notice thereof to the Company by the Executive; iv. any pattern of harassment which occurs within the first twelve (12) months after the execution of this Agreement, which is done with the approval of the Board of Directors of the Company and which impedes the Executive in the exercise of his authorities, powers, functions or duties hereunder in the manner in which they would normally be exercised by a Chief Executive Officer; or v. the Board of Directors of the Company has given the Executive written notice of its intention not to renew this Agreement. In the event that the Executive shall terminate his employment with Good Reason, he shall provide the Company with sixty (60) days advance notice of his date of termination of employment.after