Common use of Voluntary Termination Not for Good Reason or for Failure to Relocate Clause in Contracts

Voluntary Termination Not for Good Reason or for Failure to Relocate. Notwithstanding any other provision of this subsection (e) to the contrary, if the Termination of Employment (i) is the result of a voluntary action by Officer, does not constitute a Termination for Good Reason, and occurs at least six months, but not more than one year, following a Change in Control, or (ii) whether voluntary or involuntary, occurs at the time of, or at any time within one year following, a Change in Control and following the Company's requiring the Officer to perform his/her duties and responsibilities hereunder at a New Location, which relocation is not accepted by Officer within 30 days after receiving notice thereof, then the Company shall pay to Officer all amounts that would be payable pursuant to subsection (d)(2) of this Section had such Termination of Employment occurred prior to the Change in Control and constituted a Termination for Good Reason.

Appears in 5 contracts

Samples: Severance Agreement (Pioneer Natural Resources Co), Severance Agreement (Pioneer Natural Resources Co), Severance Agreement (Pioneer Natural Resources Co)

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Voluntary Termination Not for Good Reason or for Failure to Relocate. Notwithstanding any other provision of this subsection (e) to the contrary, if the Termination of Employment (i) is the result of a voluntary action by Officer, does not constitute a Termination for Good Reason, and occurs at least six months, but not more than one year, following a Change in Control, or (ii) whether voluntary or involuntary, occurs at the time of, or at any time within one year following, a Change in Control and following the Company's requiring the Officer to perform his/her his duties and responsibilities hereunder at a New Location, which relocation is not accepted by Officer within 30 days after receiving notice thereof, then the Company shall pay to Officer all amounts that would be payable pursuant to subsection (d)(2) of this Section had such Termination of Employment occurred prior to the Change in Control and constituted a Termination for Good Reason.

Appears in 2 contracts

Samples: Severance Agreement (Pioneer Natural Resources Co), Severance Agreement (Pioneer Natural Resources Co)

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