Good Reason Resignation definition
Good Reason Resignation. ’ means any retirement or termination of employment by a participant that is not initiated by the company or any subsidiary and that is caused by any one or more of the following events which occurs during the period beginning 60 days prior to the date of a Change in Control (defined below) and ending two years after the date of such Change in Control:
Good Reason Resignation means a voluntary termination of employment by an Eligible Employee within sixty (60) days after the occurrence of one of the following events without the Eligible Employee’s consent:
Good Reason Resignation. (i) shall have the meaning given such term (or term of similar import) in any employment, consulting, change-in-control, severance or any other agreement between the Participant and the Company or an Affiliate, or severance plan in which the Participant is eligible to participate, in either case in effect at the time of the Participant’s termination of employment or service with the Company and its Affiliates, or (ii) if “good reason resignation” or term of similar import is not defined in, or in the absence of, any such employment, consulting, change-in-control, severance or any other agreement between the Participant and the Company or an Affiliate, or severance plan in which the Participant is eligible to participate, means any termination of the Participant’s employment or service with the Company and its Affiliates by the Participant that is caused by any one or more of the following events that occurs during the period beginning 60 days prior to the date of a Change in Control and ending 24 months after the date of such Change in Control:
Examples of Good Reason Resignation in a sentence
Good Reason Resignation shall mean termination of employment that is voluntary on the part of the Executive but is due to: (i) a significant reduction of the Executive’s responsibilities, title or status resulting from a change in such title or status, or from the assignment to the Executive of any duties inconsistent with his title, duties, or responsibilities; or (ii) a reduction in the Executive’s salary, bonus potential, or a material reduction of benefits.
Termination Without Cause shall mean either (1) a termination of the Executive’s employment by the Company, (other than a termination due to death as described in Section 10(a) above, disability as described in Section 10(b) above, or a Termination For Cause as described in Section 10(c) above); or (2) a termination due to Good Reason Resignation as defined as follows:.
In the event of a Termination Without Cause or a Good Reason Resignation, the Employee shall be paid Employee’s normal monthly Base Salary (as defined below) for a period of three (3) months following the effective date of termination of employment, which shall constitute Employee’s full and complete entitlement to severance compensation.
Any termination on account of a Good Reason Resignation must occur within two years following the initial occurrence of such event.
Failure of Employer to obtain such agreement prior to the effective date of the Change of Control shall be a breach of this Agreement and shall constitute a Good Reason Resignation.
More Definitions of Good Reason Resignation
Good Reason Resignation shall have the same meaning it does in the Employment Agreement.
Good Reason Resignation means termination by Employee of Employee's employment by Employer following the occurrence of any of the events set out below unless such event is fully corrected by the Employer within 30 days following written notification by Employee to Employer that Employee intends to terminate his employment for one or more of the reasons set out below:
Good Reason Resignation means your voluntary termination of employment within sixty (60) days after the occurrence of one of the following events without your consent:
Good Reason Resignation means termination of this Agreement by Executive during the Change in Control Term as a result of (i) any diminishment in, or an alteration of, Executive's duties inconsistent with position and status with the Company as in effect immediately prior to the Change in Control, (ii) assignment to Executive by Employer of duties that are inconsistent with Executive's position, duties and responsibilities in effect immediately prior to the Change in Control, (iii) any removal of Executive from or failure to re-elect him or appoint him to any of such positions, except in the case of a Termination With Cause, or on account of Total Disability, (iv) any reduction in one or more components or elements of Executive's compensation and benefits package described in Section 3 and in Exhibit B hereof that is in effect immediately prior to the Change in Control, (v) failure by the Employer to obtain the assumption of agreement to perform this Agreement by any successor to the Employer, or (vi) a change in Executive's location of employment outside of the standard statistical metropolitan area of Atlanta, Georgia.
Good Reason Resignation means your resignation within twelve (12) months after a Change of Control because the Change of Control resulted, without your consent, in: (a) a relocation of your assigned office more than thirty-five (35) miles from its location immediately prior to the Change of Control; (b) a material decrease in your base salary (except for salary decreases generally applicable to the Company’s other executive employees); or (c) a material reduction in the scope of your duties and responsibilities from your duties and responsibilities in effect immediately prior to the Change of Control. Notwithstanding the foregoing, a “Good Reason Resignation” shall only occur if: (a) you notify the Company in writing, within sixty (60) days after the occurrence of one of the foregoing events, specifying the event(s) constituting “good reason” and that you intend to terminate your employment no earlier than thirty (30) days after providing such notice; (b) the Company does not cure such condition within thirty (30) days following its receipt of such notice or states unequivocally in writing that it does not intend to attempt to cure such condition; and (c) you resign from employment within thirty (30) days following the end of the period within which the Company was entitled to remedy the condition constituting “good reason” but failed to do so.
Good Reason Resignation shall only occur if: (a) the Eligible Employee notifies the Company in writing, within sixty (60) days after the occurrence of one of the foregoing events, specifying the event(s) constituting “good reason” and that he or she intends to terminate his or her employment no earlier than thirty (30) days after providing such notice; (b) the Company does not cure such condition within thirty (30) days following its receipt of such notice or states unequivocally in writing that it does not intend to attempt to cure such condition; and (c) the Eligible Employee resigns from employment within thirty (30) days following the end of the period within which the Company was entitled to remedy the condition constituting “good reason” but failed to do so.
Good Reason Resignation means termination of this Agreement by Executive during the Change in Control Term as a result of (i) any diminishment in, or an alteration of, Executive's duties inconsistent with position and status with the Company as in effect immediately prior to the Change in Control, (ii) assignment to Executive by Employer of duties that are inconsistent with Executive's position, duties and responsibilities in effect immediately prior to the Change in Control, (iii) any removal of Executive from or failure to re-elect him or appoint him to any of such positions, except in the case of a termination of employment on account of the willful and continued failure by the Executive to substantially perform his duties as described in Exhibit A for the Employer, or on account of Total Disability, (iv) any reduction in one or more components or elements of Executive's compensation and benefits package described in Section 3 and in Exhibit B hereof that is in effect immediately prior to the Change in Control, (v) failure by the Employer to obtain the assumption of agreement to perform this Agreement by any successor to the Employer, (vi) a change in Executive's location of employment outside of the standard statistical metropolitan area of Atlanta, Georgia, (vii) assignment to Executive by Employer of a different reporting relationship than described in Exhibit A, or (viii) a failure to renew this Agreement for the Renewal Term specified in Section 1.