Common use of Your resignation for Good Reason Clause in Contracts

Your resignation for Good Reason. (“Good Reason” shall mean the occurrence of any of the following: (i) the Company, without Your written consent, (a) takes any action which results in the reduction of, Your then current title, duties, or responsibilities, other than a reduction or change required by applicable law or listing requirements, (b) reduces Your then current Base Salary or Target Bonus other than a one-time reduction of not more than 10% that also is applied to substantially all executive officers of the Company, (c) reduces the benefits to which You are entitled on the Effective Date, unless a similar reduction is made for substantially all other executive officers, or (d) relocates You to a facility or a location more than 75 miles from Your then present location, (ii) a successor to the Company fails to assume this Agreement in writing upon becoming a successor or assignee of the Company, or (iii) the Company breaches this Agreement and such breach results in material injury to You; provided, however, that if the event that potentially constitutes Good Reason is capable of cure, Good Reason only shall exist if the Company has not cured such event within thirty (30) days after receipt by the CEO of written notice from You describing why You believe Good Reason exists.); or