Termination by the Employee definition

Termination by the Employee. With Good Reason" or "Without Good Reason''. The Employee's termination of his employment shall be "With Good Reason" if (A) the Employee provides written notice to the Company of the Good Reason within thirty (30) days of the event constituting Good Reason; (B) the Company fails to cure the Good Reason within thirty (30) days following receipt of such notice; and (C) the Employee terminates his employment for Good Reason within thirty (30) days following the expiration of the period to remedy if the Company fails to remedy the condition, provided, however, that in the event the Company provides the Employee with the notice described in Sections 5.l(c) or (d), the Employee may not seek to terminate his employment hereunder for Good Reason after receipt of such notice and prior to the date that is two (2) days following the expiration of the thirty (30) day cure period. For purposes of this Agreement, "Good Reason" shall mean any of the following events if effected by the Company without the consent of the Employee: (1) a change in the Employee's position with the Group Companies which materially reduces the Employee's level of responsibility or authority; (2) a reduction in the Employee's Base Salary or annual target bonus percentage which either (i) is larger on a percentage basis than a concurrent reduction in base salary or annual target bonus percentage of other senior executive officers of the Group Companies or (ii) in the aggregate reduces Employee's total potential cash compensation (i.e. , Base Salary plus annual target bonus) by greater than 15%; (3) a relocation of the Employee's principal place of employment that results in an increase in the Employee's commute by more than forty (40) miles than Employee's commute as of the Effective Date; or (4) the Company's material breach of its obligations under this Agreement. "Without Good Reason" shall mean the Employee's termination of his employment under any circumstances that do not qualify as "With Good Reason" as set forth in this Section 5.2.
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Examples of Termination by the Employee in a sentence

  • Termination by the Employee of the Employee’s employment with the Company for Good Reason.

  • An offer by the Employee to resign from an office or the Board or otherwise to step aside will not, whether in writing or oral, constitute a Notice of Termination by the Employee.

  • Termination by the Employee of the Employee’s employment based on “Retirement” shall mean termination on or after the normal retirement date established under the terms of any qualified plan or plans of the Company in effect prior to a Change in Control.

  • A Notice of Termination by the Employee in the case of a Constructive Termination shall specify in reasonable detail the event or circumstance constituting the Constructive Termination under Paragraph (F) of Section 1 of this Agreement.

  • Any termination of employment by the Company or the Employee shall be communicated by a written “Notice of Termination” to the other Party given in accordance with Section 23 of this Agreement, except that the Company may waive in writing the requirement for such Notice of Termination by the Employee.

  • Notwithstanding the foregoing, if termination of Employee's employment is the result of either an Involuntary Termination by the Company or a Good Reason Termination by the Employee, these non-competition obligations shall terminate six (6) months after the date of such Involuntary Termination or Good Reason Termination.

  • Any Notice of Termination by the Employee pursuant to subparagraph (iii) above must be given within thirty (30) days of the event or occurrence constituting Good Reason, and failure by Employee to give such notice within such time shall constitute a waiver of any rights Employee may have hereunder arising out of such event or occurrence constituting Good Reason.

  • A Notice of Termination by the Employee pursuant to Section 6(d) must be provided to the Employer within 90 days of the date the Employee has actual knowledge of the occurrence of the event or circumstances described in the definition of Good Reason.

  • Termination by the Employee of his --------------------------- employment for "Good Reason" shall mean a termination by the Employee (i) upon a significant demotion or material adverse change in his duties and responsibilities; or (ii) a material breach or violation by CSI of any provision of this Agreement after the Employee has given CSI at least 30 days prior written notice together with an opportunity to cure said breach or violation during such 30 day period.

  • The Constructive Termination by the Employee that is not remedied by the Company within ten (10) days from the receipt of notice by the Employee to the Company of Constructive Termination.